5 homes that saw price drops in Ontario

Potential home buyers might find some lower prices across Ontario this winter.

Winter is typically a slower time in real estate with fewer listings. While some areas in the GTA saw price increases recently, the market remains sluggish.

In November, GTA home sales jumped on a year-over-year basis. The average selling price rose 2.6 per cent compared with a year earlier to $1,106,050. But home prices are still well below their historic peak, Toronto Regional Real Estate board president Jennifer Pearce said in the November report.

There are several examples of homes selling at a loss in Brampton and Oakville. While there may be a market recovery in 2025, many sellers are lowering prices.

Real estate brokerage Zoocasa has a few examples of properties that have lowered their price in recent weeks.

Here are five Ontario homes that have seen price drops:

580 King George St., Peterborough

Photo: Exit Realty Liftlock

This three-bedroom home is in a peaceful neighbourhood in Peterborough’s south end. Features include a fully fenced yard, detached garage, covered porch and an open-concept living and dining area.

The home has new vinyl flooring and an electric fireplace. There is also a fully finished basement.

This home was listed for $569,000 in the summer of 2023. This month it was listed for $525,000.

1816 – 480 Front St. W., Toronto

Photo: Luxury International Real Estate Inc.

This one-bedroom condo saw a $50,000 price drop, according to Zoocasa. Now listed for $999,000, this “luxury” condo is in the new Toronto development, The Well, which has retail shops and restaurants.

This place has a den and balcony with an unobstructed clear view. Amenities include a state-of-the-art gym, outdoor pool, barbecue area and a 24-hour concierge.

269 Court St., Oshawa

Photo: Dan Plowman Team Realty Inc.

This three-bedroom home was listed for $599,900 in the summer but the price has reduced over the last few months to $525,000.

A one-and-a-half-storey detached home, this place sits on a large corner lot. Other features include a large detached garage, complete with heat and power ideal for a workshop, hobby space or extra storage. The home is also minutes away from downtown Oshawa.

23 – 5625 Oscar Peterson Blvd. Mississauga

Photo: Century 21 Skylark Real Estate Ltd.

This two-bedroom condo townhouse has three washrooms. Newly painted, this corner unit has plenty of natural light and is located in the Churchill Meadows area. It also has balconies on the main and lower floors.

It was listed for $699,000 in June but that price has dropped to $649,990.

177 Durham St., Kincardine

Photo: Re/max Land Exchange Ltd.

This two-bedroom home is near Kincardine’s Dunsmoor Park, the historic Kincardine Beach Pavilion and the famous Rock Gardens. The custom-built home has served as a beachside family retreat for several decades but could be a year-round home, investment or retirement property.

This home was listed in November 2022 for $824,900 and has dropped in price a few times. It was listed last month for $679,900.