Latest data from the Toronto Regional Real Estate Board show GTA home sales in October were about half, or 49.1%, of what they were last year From m_zadikian
Greater Toronto home prices might have found a bottom despite another sales drop in October.
The latest Toronto Regional Real Estate Board data showed GTA home sales in October were about half, or 49.1 per cent, of what they were compared to last year. Some 4,961 properties changed hands in the month versus 9,743 in October 2021. The average selling price of a property in October was $1,089,428, down 5.7 per cent compared to last year. However, when looking at the month-over-month changes, prices have flatlined since July.Home prices fell between 9.9 per cent and 11.8 per cent for detached homes in the city and suburbs, while prices for condos were flat or slightly higher in October year-over-year.
Some real estate industry watchers have said would-be sellers are delaying putting their home up for sale as prices plunge.
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