Still the steepest fall in the city, but a smaller one.

Twenty-six sales in August, the same count as July, at an average of $878,562 and a median of $782,500. The benchmark sits at $937,300, down 8.57% on the year — still the largest decline of any district in the City of Toronto, though smaller than July's 10.41%. Homes took 43 days to sell at 95% of asking, on 5.3 months of inventory.

The reason is land. C06 is a bungalow-and-infill district where land value set the price through the boom, and land reprices fastest when borrowing costs bite. Sales counts are thin, so the benchmark swings hard. The apartment benchmark, $492,700 and down 9.37%, offers no floor. New listings did halve, from 82 to 42, so the supply side is at least quieter.

For a buyer with a five-year horizon, the city's biggest price decline on detached land near the Line 1 subway is worth underwriting carefully. For sellers, this is still a month to wait if you can. Either way, ask for the street-level picture first.