Toronto鈥檚 whipsawing real estate market erased an estimated $135 million in value in 135 days from nearly 1,000 homes as prices tumbled from a dizzying high, according to a new study.

That鈥檚 just one of the key takeaways that John Pasalis, the president of Toronto鈥檚 Realosophy brokerage, revealed in his .

Here are some of the figures:

$135 million 鈥� The amount of money that 988 homeowners lost in less than five months after the report said the housing bubble burst.

$140,200 鈥� The average price drop on 866 properties that failed to close after initially being sold, when a new buyer was found later in the year.

122 鈥� The number of sellers who bought homes in 2017 and sold at an average loss of $107,325 later in the year.

28 鈥� The multiple of annual rental value that average Greater Toronto Area (GTA) home prices reached by the end of 2017, a figure that suggests the region is less affordable than San Francisco, Los Angeles and New York, according to the study.

18 per cent 鈥� The median price home price decline between March 2017 ($765,000) to July 2017 ($626,000). The report notes this fall was more rapid than the one seen in the U.S. preceding the housing crisis beginning in 2006.

Realosophy鈥檚 report is based on data from listings from the MLS website.

The bubble is pricked. So now what?

The future looks far less volatile for buyers and sellers in the GTA, with the condo market being the final meaningful pocket of risk, according to Pasalis. In the near term, he鈥檚 calling for neither a continued correction, nor a return to the break-neck price increases that defined so much of 2017.

鈥淲e鈥檝e kind of pricked this bubble,鈥� Pasalis told CTVNews.ca. 鈥淔or this year, it looks like things are going to be pretty stable. It鈥檚 possible you might see price declines going forward in the future, but something else has to happen.鈥�

That something else would have to be on the magnitude of the collapse of the ongoing North American Free Trade Agreement negotiations, or the onset of a recession, in his view.

Pasalis said he expects things to be comparably quiet on the policy front as a combination of new rules that force lenders to 鈥渟tress test鈥� certain borrowers with uninsured loans, foreign buyer鈥檚 taxes and rising interest rates cool off demand.

鈥淚 think it would be a mistake to do anything right now. The market needs to kind of absorb these big changes that have already happened,鈥� he said. 鈥淚t鈥檚 too early to introduce any new big measures.鈥�