York Region’s housing market continued to cool in November, with the average home price slipping to $1.21 million, marking a 2.1 per cent decline from October and a 7.6 per cent drop compared to the same period last year. Sales activity also weakened, falling 17.8 per cent year-over-year, while active listings increased by nearly 20 per cent, pointing to growing supply and softer buyer demand. Homes are spending more time on the market, averaging 35 days, with a total of 893 sales completed through the month. By the end of November, inventory had expanded to 4,815 active listings, easing competition and further signalling a shift toward a more balanced—or even buyer-leaning—market environment.
Detached homes were the only category to show upward movement in pricing, climbing 2.5 per cent month-over-month to an average of $1.57 million. All other housing types saw declines. Semi-detached properties experienced the sharpest annual drop at nearly 14 per cent, while attached homes, townhouse-style condos and apartment-style condos also posted year-over-year decreases ranging from just under 1 per cent to more than 11 per cent. Inventory grew across segments, adding pressure on sellers and reducing urgency among buyers in most categories.
Despite the cooling trend over the past year, the long-term picture remains strong. Compared to November 2015, average home prices across York Region have increased by nearly 50 per cent, with detached and semi-detached homes each posting substantial gains. Even with current declines, overall valuations remain significantly higher than a decade ago, underscoring the region’s enduring demand drivers and sustained price elevation.
