Sep 06, 2017
By Jane Brown
The number of homes sold in the Toronto area continues to be on the decline, but buyers are still paying big bucks to purchase new properties.
A release from the Toronto Real Estate Board says the number of residential properties sold in August was down nearly 35-percent from the same month last year, but the average price was up modestly.
For all home types, the average price was just over $732-thousand, up 3 percent from August of 2016.
At the same time, the number of new listings entered into the board’s Multiple Listing Services was down 6.7 per cent from a year ago and the lowest for an August since 2010.