The number of homes sold in the Greater Toronto Area dropped by 14.3% in March, but the average selling price increased by 16.5% due to competition among buyers.
Greater Toronto home sales were down in March, but competition among buyers pushed prices up, according to the local real estate board. The number of homes sold in the Greater Toronto Area dropped by 14.3% compared to the same month last year. However, the average selling price increased by 16.5% to $902,680. The board attributed the decline in sales to a lack of supply, as new listings were down by 3.1% year-on-year.
The market remains highly competitive, with homes selling quickly and often receiving multiple offers
Toronto Home Sales Competition Prices Real Estate
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