Toronto Home Sales Tick Up, Prices Still Falling

0:00Home sales in the greater Toronto area finally ticked up in March, marking the first year-over-year increase in six months with 5,000. 39 home sold, a 1.7% jump from last year. Prices kept sliding though, with the average selling price dropping 6.7% to 1 million, 17,796. Dollars, while the benchmark for a typical home fell 7.4%. That uptick in sales also showed a 1.4% rise from February on a seasonally adjusted basis, hinting at some buyer momentum building. Toronto Regional Real Estate Board President Daniel Steinfeld called it an encouraging sign, saying more households are jumping on better. Affordability conditions right now. New listings plunged 16.7% to 14,442. An overall inventory shrink, 8% to 21,596 active listings, tightening the market even a sales stir. This balance could signal steadier times ahead for Toronto buyers.

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