Jun 2026
Average Price
$1,116,809
Largely driven by historically low interest rates, transaction activity in the North York real estate market remained strong throughout 2016, and it hit a decade high of 962 units in May 2016. A similar surge in buyer demand and sales activity was seen during the pandemic period as well. Fast forward to today, and the pace has slowed significantly, with sales now averaging between 160 and 300 units. At the same time, inventory levels have built up and are noticeably higher than in earlier periods. With this shift, buyers now have more room to negotiate and compare their options. However, buyers must act sooner rather than later before conditions begin to shift again. Homeowners, meanwhile, should focus on avoiding the common pitfalls that sellers often run into in a slowing market.
According to the housing market trends in North York, the highest monthly sales of the entire decade were recorded in May 2016 at 962 units. Meanwhile, available inventory ranged from about 1,200 to 2,800 units, reflecting a healthy and steady level of supply throughout.
As tighter borrowing rules came into effect, the pace of sales began to ease in the North York real estate market. Monthly sales moved between 210 and 620 units, with fewer sharp spikes compared to earlier years. Meanwhile, active listings remained relatively elevated, generally ranging from 1,400 to 2,900 units.
Sales dropped to just 155 units in April 2020 before climbing to as high as 926 units by March 2021. At the same time, available homes increased from 1,313 units in January 2020 to 3,194 units in October 2020, marking the highest inventory level recorded in the decade. The reason behind these shifts was the uncertainty at the onset of the pandemic, followed by rising demand due to ultra-low interest rates and remote work trends.
As the interest rates climbed higher, the North York housing market moved into a more stable phase. Sales stayed between 200 and 650 units, showing more consistency month to month. Active listings ranged from 1,130 to 2,400 units, gradually moving down from earlier highs.
More recently, the market has remained steady, with sales ranging between 160 and 440 units, while active listings stayed between 1,430 and 2,960 units.
The absorption rate in the housing market in North York remained consistently above 60%, often ranging between 65% and 90%.
The market slowly moved out of strong seller territory into more balanced conditions. The absorption rate mostly stayed within the 40% to 60% range during this period.
The absorption rate generally ranged from about 45% to 70%, with occasional spikes.
During this phase, the absorption rate moved sharply back into a strong seller territory, frequently crossing 60% and reaching a peak of 86.35% in November 2021. This marked one of the tightest phases, with demand clearly outpacing supply.
After the peak, the market activity in the North York real estate market shifted from balanced conditions into a more consistent buyer’s condition. As of 2026, rates remain below 35%, pointing to a softer market.
Source: Based on analysis of historical information made available from respective real estate boards.
Detached homes recorded 16,672 sales, making them the second most sold property type in the North York housing market after apartments. They also rank highest in average sale price, at about $2.17M.
Semi-detached sales recorded 2,593 sales, representing a smaller share of total transaction activity. Prices in this segment are around $1.07M.
Freehold townhouses recorded 763 sales, making them the least common property type in terms of transactions. The average sale price of this category of townhouses for sale is $1.25M.
Condo townhouses accounted for 3,838 sales, with average prices near $827K.
Condo apartments lead the market with 29,937 sales and remain the most affordable option, with an average sale price of around $640K.
More affordable than downtown Toronto, strong transit connectivity, and a balance between urban convenience and suburban comfort - the reasons to keep an eye on the North York housing market are plenty. That’s likely why North York has landed on the list of Ontario’s top emerging real estate markets. Now, when we take a closer look at the current housing price trends in North York, it’s clear the market is following a similar path to the broader Ontario housing market. Post-pandemic, market conditions have shifted, with buyer demand easing alongside prices. At present, North York housing prices are down 19.30% compared to five years ago. On a year-over-year basis, prices have come down by 1.85%, and year-to-date, they are down 1.89%. Not just that, compared to earlier years, homes in North York are staying on the market longer, giving buyers an added advantage as they step in.
More room to negotiate
Less pressure to rush
Wider range of homes to choose from
Buyer demand remained solid throughout this phase with strong economic conditions and historically low interest rates. Starting at around $920K in 2016, the average North York house price steadily moved higher, crossing the $1M mark and reaching roughly $1.24M by spring 2017.
After the earlier upswing, both demand and prices eased following the introduction of the mortgage stress test. Through late 2017 and into 2018, prices mostly hovered between $940K and $1.10M, with some brief spikes.
At the start of the year, prices were holding between $1.20M and $1.30M. Midway through the year, pandemic uncertainty slowed buyer activity, pulling prices down to about $964K in May. However, the market quickly regained momentum, and by October, prices had climbed back above $1.40M.
From 2021 into early 2022, ultra-low interest rates and strong housing demand drove a sharp surge in prices across North York. This period marked the peak in property pricing, with April 2022 recording the highest average home price of the decade at $1.71M.
After the peak, prices adjusted as the Bank of Canada began pushing interest rates higher. Through 2022 and 2023, most homes were sold within the $1.10M to $1.50M average price range.
In 2024, most homes were selling above $1.20M, with some crossing $1.45M. Moving into 2025 and early 2026, the average house price in North York mostly stayed between $980K and $1.16M, showing a shift in market conditions.
North York’s steadily growing population has continued to keep its rental market strong. Over the past five years alone, the North York rental housing prices have gone up by 11.56%. In recent years, though, the rental segment has been going through a correction and rebalancing phase, much like the broader housing market. Rental prices are currently 5.86% lower year-over-year, while on a year-to-date basis, they are up slightly by 1.44%.
During this phase, leasing activity generally stayed between roughly 360 and 790 units per month. At the same time, the average rental house price in North York remained fairly stable, within a range of about $2,100 to $2,600.
Moving into this period, leasing activity picked up compared to earlier periods, typically ranging from around 360 to nearly 1,000 units. Rent levels also moved higher, mostly staying between $2,400 and $3,000.
At the start of 2020, leasing activity dropped sharply, falling to 254 units in April. Rent levels, however, remained relatively steady, staying within the $2,500 to $2,900 range. From late 2020 into 2021, leasing activity gradually improved, and rent levels also regained stability.
During this phase, rental prices moved into a higher range, mostly between $2,500 and $3,500. Leasing activity remained fairly steady, generally ranging from 430 to 930 units. In October 2023, the average rent reached the highest level of the decade at $3,496.
In 2024, leasing activity remained strong alongside elevated rental price levels. Moving into 2025 and early 2026, both metrics began to ease. According to rental housing price trends in North York, rent levels moved down from around $3,400 to about $2,888 by March 2026. Leasing activity also came off earlier highs but remained relatively strong, staying between roughly 560 and 900 units.
