Toronto’s housing market has slowed down not just in price, but in pace. After years of bidding wars and record-breaking sales, the frenzy has cooled, and a new reality is settling in, according to one Toronto realtor.

The state of Toronto’s housing market depends on who you ask because currently the story looks very different for buyers and sellers, says realtor Danielle Demerino.

“As a buyer, you’ve never seen so much choice. The inventory continues to go up, and the selection is wide. But as a seller, you might be selling at about an 18 percent decrease in price from the peak in 2022.”

Everyone is getting used to what agents are calling “the new normal.”

Rising interest rates and affordability challenges are reshaping who’s in the market.

Demerino tells CityNews homes are taking at

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