An Ontario home sold at a massive $760,000 loss this month shows just how much prices have changed since 2022, when cheaper borrowing rates resulted in sky-high demand and a rapid rise in prices across the province.

Four years later, the market is in rough shape, and homes are regularly being listed for resale at prices far lower than they sold for just a few years earlier.

The latest such listing, a four-bedroom, five-bathroom home in Brampton, boasts nearly 3,000 square feet of above-grade living space, with an additional 1,365 square feet of living space in its basement, which includes a theatre room and a large bar. 

The property first sold in September 2020 for $1,199,000, and was purchased again in April 2022 for $1.91 million. Following this, the home was put back on the market a few times over the years, including in March 2025 for $1,599,900, in August 2025 for $1,379,900, and in November 2025 for $1,329,900. 

ontario home price loss

Most recently, the home was re-listed for $1,269,900 and went on to sell for $1.15 million, representing a loss of $760,000 when compared to its selling price just four years earlier. 

The trend of GTA properties selling well below their original price tags has continued into 2026, as declining sales have granted buyers more negotiating power. Toronto Regional Real Estate Board (TRREB) figures released earlier this month revealed that the average selling price for a home in the region dropped below the $1 million point in January, representing the first time prices have fallen below this benchmark in five years. 

This year, the board predicts that the average selling price for a GTA home will fall between $1 million and $1.03 million, noting that “elevated inventory levels across most market segments are expected to continue providing buyers with substantial negotiating power, particularly in the condominium apartment market.” 

In January, there were only 3,082 home sales reported, representing a decline of 19.3 per cent in comparison to the same time last year. The average selling price also dropped by 6.5 per cent compared to January 2025 to $973,289. 

“The housing market reflects the tension many households are feeling as we look ahead to 2026. Affordability has improved, but uncertainty continues to weigh on long term decisions like homeownership,” TRREB President Daniel Steinfeld noted in the report. 

“Greater economic clarity in the months ahead could restore confidence and help unlock demand that has been building for several years.”

Lead photo by

RE/MAX Metropolis Realty, Brokerage