These four cities have seen home prices fall by almost 30% — nearly double Toronto’s drop

Despite experiencing dramatic price drops, home prices still remain elevated, making affordability a top issue in many cities across Ontario.

Some Ontario cities’ home prices have declined by almost a staggering 30 per cent, nearly double Toronto’s price drop since the February 2022 peak, according to a report from Desjardins.

Despite the price declines, home prices are still high compared to pre-pandemic levels, and interest rates remain elevated, eroding affordability not just in Toronto but across the province. But after the peak, prices in Windsor dropped by almost 26 per cent, Oshawa prices dropped by 26.5 per cent, Sudbury saw a 23.5 per cent drop, and St. Catharines saw an almost 30 per cent drop. In Toronto, the price drop was 17 per cent.

For example, even though St. Catharines home prices have fallen a staggering 30 per cent, it’s still 47 per cent above pre-pandemic levels.

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TorontoStar /  🏆 60. in CA

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