If you bought a Toronto-area home near the 2022 peak and are now considering moving up, the most useful question is not whether your current home has returned to its old peak value.
A better question is: what is the current price gap between the home you own and the larger home you want to buy?
Updated for 2026: This article was originally published in 2025. Older interest-rate forecasts and dated price projections have been removed because they should not be used for a current real-estate decision.
Focus on the Move-Up Price Gap
Suppose your current home is worth less than it was at the 2022 peak. That does not automatically mean moving is a bad decision. If the detached home or larger property you want has also declined, the dollar gap between the two properties may be more important than either home’s change from peak pricing.
For example, if the property you want now costs $650,000 more than your current home instead of $800,000 more, the move-up gap has narrowed even though both homes may be below previous highs. This is an illustration rather than a market forecast; use actual comparable properties when making your decision.
Do Not Base the Decision on a Rate Prediction
Mortgage rates affect affordability, but waiting for a specific future rate can be risky. If financing conditions improve, buyer demand may improve too, but competing sellers may also return to the market and the price gap between property types can change.
A move-up decision should therefore be based on today’s realistic selling range, the current cost of the next property, your available equity, financing terms and your personal timeline.
A Practical Move-Up Framework
- Estimate your current home’s realistic selling range using relevant comparable sales and active competition.
- Identify the properties you would actually buy and calculate the real price gap.
- Review financing with a qualified mortgage professional using current rates and your actual income, debt and down-payment position.
- Factor in transaction costs, including legal fees, land transfer tax on the purchase, moving costs and any mortgage-related costs that may apply.
- Consider lifestyle timing such as school, commute, space needs and whether you are comfortable carrying two properties or need to sell first.
Sell First or Buy First?
There is no universal answer. A homeowner with substantial equity and flexible financing may have different options from someone who needs the proceeds of the current sale to complete the next purchase.
The correct sequence depends on marketability, financing, inventory in your target area and your tolerance for timing risk. Read the current Should I Sell My House First or Buy First in the GTA? 2026 Guide. To estimate how much equity may actually be available for the next purchase, also review How Much Does It Cost to Sell a House in Ontario? 2026 GTA Seller Guide.
Local Move-Up Planning
If you are in Bayview Woods–Steeles, start with the Bayview Woods–Steeles Home Selling Guide. You can also explore seller resources for North York, Richmond Hill and Markham.
Find Out What Your Current Home Could Sell For
If you are considering a move-up purchase, establishing your current home’s realistic selling range is the first step. I can prepare a complimentary, no-obligation home evaluation using relevant recent sales, active competition and the characteristics of your property. Once you know the likely selling range, you can compare it with the homes you would actually consider buying.