Toronto's housing market saw a 7% rise in home sales with 5,946 transactions, while new listings dropped 9.3%, tightening supply. Average home prices fell 6.5% year-over-year to $944,100, with condos down 8.9% to $540,200. Sales-to-new-listings ratio at 35% indicates a buyer's market. Rent averages $2,504, with slight year-over-year decreases in 1- and 2-bedroom units. Affordability improved slightly, but prices remain high.