Home sales in the Greater Toronto Area (GTA) during March fell almost 30% compared to the same month last year as activity in Canada’s biggest housing market begins to ease.
The latest data from the Toronto Regional Real Estate Board (TREB) showed there were 10,955 home sales in March, up 17% from February of this year but down sharply from March 2021 as all housing segments saw sales activity fall, led by low-rise properties.
The average selling price of a property in the GTA was $1,299,894.00 in March, according to TREB. That was down modestly from the record set in February, and an 18.5% rise from March of last year.
New listings in the GTA dropped 11.9% year-over-year, less than the decline seen in sales.
