GAS PRICES AND HOME PRICES ON THE DECLINE IN THE GTA

Sep 02, 2022

By Jane Brown

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It’s good news if you’re buying a home, not as good if you’re selling.

The latest numbers from the Toronto Regional Real Estate Board indicate more homes were sold in August of 2022 than in July 2022, but sales were down 34-percent from August of 2021.

The average selling price of a home in the GTA in August was $1,079,500, up nearly 9-percent from August of 2021 but down from July of this year.

Meantime, the final long weekend of Summer 2022 will be the cheapest one for drivers.

Gasoline prices have fallen significantly from their early-summer highs, to a national average of $1.61.9 per litre for regular fuel.

Here in the GTA, the cost of gas is currently at $1.49.9 but is expected to drop 2 cents at midnight to $1.47.9 for Saturday September 3rd.

This is lowest it’s been since January, as some people are cutting back on how much they drive.

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