Toronto real estate sales continue to perform well below March 2017 levels, with the latest data from the regional real estate board revealing a 39.5-per-cent drop in activity.
Just 7,228 homes were sold last month, a stark contrast to the record-breaking 11,954 the year prior, reports the Toronto Real Estate Board. It’s the third month in a row that 2018 home sales have failed to improve year over year, measuring 17.6 per cent lower than the 10-year average.
New listings also detracted 12.4 per cent, with 14,866 homes up for sale. Prices have followed suit, softening 14.3 per cent to an average of $784,558.