TORONTO — The Toronto Regional Real Estate Board says Greater Toronto home sales in March were down 4.5 per cent from last year, but there was enough competition between buyers that the average home price rose moderately year-over-year.
"Population growth has become so prominent in terms of driving this marketplace, and driving the demand, that prices have stayed high, while at the same time sales have fallen off because of affordability," Kapches said in an interview. The first quarter ended with 11.2 per cent higher sales year-over-year and new listings up by 18.3 per cent for the three-month period.
By property type, sales of condo apartments saw the biggest decrease throughout the GTA, with 12.8 per cent fewer changing hands. There were also three per cent fewer detached home sales in March.
Source: Real Estate Daily Report (realestatedailyreport.net)
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