“Toronto home prices are steadying, amid dramatic year-over-year declines” via “Toronto Star”
Toronto area housing statistics continue to look dramatically lower than the steeply rising figures of early last year. But there are signs that the market is flattening.
The average home or condo sold for 12.4 per cent less year over year in April with all types of resale houses and condos averaging $804,584 across the region.
But preliminary seasonally adjusted prices from the Toronto Real Estate Board (TREB) show prices down only 0.2 per cent from March with 1.6 per cent fewer sales month over month, about the same as February to March, a much gentler drop than the start of the year.
The number of homes that actually sold in April — 7,792 — was down 32.1 per cent from last year.
The decline in both sales and prices was greatest among detached houses, which sold for about $1.03 million on average, down 14.4 per cent from a year ago. The number of house sales dropped 38.4 per cent.