Dec 06, 2022
By Jane Brown
Sales of homes in the GTA are way down from a year ago and prices are also on the decline.
The latest report from the Toronto Regional Real Estate board says November home sales were down by 50-per cent from the same month a year ago.
The November decrease to over 4500 sales came as rising interest rates continue to put pressure on affordability and the real estate market.
The average price across all home types in the Greater Toronto Area was down 7.2 per cent in November year-over-year.
A detached home sold on average for $1.39-million, while condo units were $709,000.