Which part of the GTA has shown the largest housing prices drop since February 2022?
Home prices in Toronto and the Greater Toronto Area (GTA) have been falling since its February’s peak.
According to the Toronto Regional Real Estate Board (TRREB), in February, an average GTA home price for all real estate types reached $1,334,544. TRREB’s July report says the number went down by as much as 19.5% to $1,074,754.
Some regions reported larger drops than others. For instance, Durham Region is leading the way with a 26.6% decrease, with southern areas of Simcoe County following (24.8%). Smaller declines of 19.7% and 19% were seen in York Region and Peel Region, respectively. Housing prices were down by 18.1% in Halton Region and by 15.8% in Toronto.
Durham Region is also the leader in the sector of detached houses, reporting a 29.1% prices drop, followed by Toronto and Simcoe County both at 26.9%. Detached homes were sold for 20.7% less in July compared to February, while Peel Region saw a decrease by 20.3%, and Halton Region – by 19.9%.
Semi-detached houses showed a slightly different picture, although Durham also reported the largest decrease (25.8%). York followed with 25.4% and Peel – with 25%. Semi-detached home prices in Halton were down by 22.9%, while Simcoe saw a 15.5% decline and Toronto – a drop by 15.4%.
In case of condos, the market saw smaller drops in most regions outside of Simcoe, which has shown a decline by 35.2% from February. Durham condo apartments were down by 17.3%, Peel Region and York Region condos reported drops by 15.3% and 13.5%, respectively.
Toronto condo prices fell by 9.5%, and Halton Region saw a drop by only 4.2%.
| Peel Region | Feb.2022 | July 2022 | +/- |
| Brampton | $1,346,275 | $1,027,535 | -23.7% |
| Caledon | $1,824,495 | $1,447,135 | -20.1% |
| Mississauga | $1,225,339 | $1,068,804 | -12.8% |
| Toronto | Feb.2022 | July 2022 | +/- |
| Toronto West | $1,109,426 | $985,947 | -11.1% |
| Toronto Centre | $1,251,353 | $1,039,067 | -17.0% |
| Toronto East | $1,222,532 | $1,014,201 | -17.0% |
| York Region | Feb.2022 | July 2022 | +/- |
| Aurora | $1,633,259 | $1,371,558 | -16.0% |
| East Gwillimbry | $1,633,611 | $1,160,573 | -29.0% |
| Georgina | $1,151,697 | $863,163 | -25,0% |
| King | $3,218,432 | $1,664,046 | -48.3% |
| Markham | $1,559,047 | $1,233,512 | -20,9% |
| Newmarket | $1,433,690 | $1,126,666 | -22.0% |
| Richmond Hill | $1,545,319 | $1,443,055 | -6.6% |
| Vaughan | $1,607,591 | $1,285,860 | -20.0% |
| Whitchurch-Stouffville | $1,732,461 | $1,256,339 | -27.5% |
| Halton Region | Feb.2022 | July 2022 | +/- |
| Burlington | $1,457,249 | $1,135,359 | -22.1% |
| Halton Hills | $1,394,299 | $1,193,089 | -14.4% |
| Milton | $1,352,705 | $1,082,214 | -20.0% |
| Oakville | $1,768,448 | $1,524,237 | -13.8% |
| Durham Region | Feb.2022 | July 2022 | +/- |
| Ajax | $1,273,349 | $960,325 | -24.6% |
| Brock | $1,168,477 | $716,700 | -38.7% |
| Clarington | $1,156,431 | $850,893 | -26.4% |
| Oshawa | $1,099,738 | $765,039 | -30.4% |
| Pickering | $1,283,045 | $1,050,817 | -18.1% |
| Scugog | $1,480,176 | $989,381 | -33.2% |
| Uxbridge | $1,589,442 | $1,173,300 | -26.2% |
| Whitby | $1,367,026 | $1,007,208 | -26.3% |
| Simcoe County | Feb.2022 | July 2022 | +/- |
| Adjala-Tosorontio | $1,743,917 | $1,008,750 | -42.2% |
| Bradford | $1,404,779 | $1,038,781 | -26.0% |
| Essa | $1,027,370 | $787,050 | -23.4% |
| Innisfil | $1,112,769 | $970,286 | -12.8% |
| New Tecumseth | $1,226,559 | $855,200 | -30.3% |
| Dufferin County | Feb.2022 | July 2022 | +/- |
| Orangeville | $1,049,670 | $887,592 | -15.4% |