Current assessment data pointed to slightly better affordability across Ontario, with 24% of homes below $500K provincewide in current valuations overall now.
Nearly half of Ontario condos are now valued below $500K, making the condo segment a major reason affordability looked somewhat better provincewide.
An expert said higher borrowing costs reduced demand across Ontario, helping ease prices in many markets, especially in the south and condominiums.
Local industry leaders said expensive construction limited new builds in northern Ontario, keeping supply tight and helping home prices stay relatively resilient.
Northern Ontario still generally remains more affordable than the south, even as tighter supply limits lower-priced options and keeps prices comparatively resilient.
