Toronto home sales fell 9.5% year-over-year in October, totalling 6,138 transactions.
New listings rose 2.7% to 16,069, while active listings surged 17.2%, pressuring prices.
Benchmark home prices dropped 5%; average price fell 7.2% to $1,054,372.
Detached homes averaged $1,355,506 (-7.3%) and condos $660,208 (-4.7%), favouring buyers with cash.
Sales declines were broad: detached and condos -11%, townhouses -8.5%, semi-detached -2.8%.
GTA single-family sales surpass 10-year average as HST rebate takes hold
Ontario's expanded HST rebate boosted GTA low-rise new home sales in April to 1,100 units, nearly triple last year and 21% above the 10-year average for single-family homes. However, condo sales lagged at 199 units,...
