Average Toronto home sale price fell unexpectedly in March; still up 18.5 per cent for the year
The Toronto Regional Real Estate Board says that the average selling price across all property types last month was $1.299 million.
The latest data, released by the board this morning, comes on the heels of the Bank of Canada hiking interest rates by 25 basis points last month. “Competition between home buyers in the GTA remains very strong in most neighbourhoods and market segments. However, we did experience more balance in the first quarter of 2022 compared to last year. If this trend continues, it is possible that the pace of price growth could moderate as we move through the year,” TRREB Chief Market Analyst Jason Mercer said in a news release accompanying the figures.
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