04/15/2020
Toronto real estate market is changing but still plenty of activity
by Ron Johnson for TRNTO Posted: April 3, 2020
Although the Toronto real estate market may not have completely fallen off a cliff yet, it is certainly heading in that direction. But, if and when a significant drop does occur, there is also the chance of a quick and strong bounce back depending on the rate at which people begin to head back to work en masse.
The latest figures released by the Toronto Regional Real Estate Board (TRREB) reported 8,012 home sales through TRREB’s MLS® System in March 2020, which is up by 12.3 per cent from March 2019. Prices grew 11.1 per cent year-over-year as well.
But, those rosy figures do not tell the full story.
The average selling price for sales reported between Mar. 15 and Mar. 31, was $862,563 – down from the first half of March 2020, but still up by 10.5 per cent compared to the same period last year.
See the full report at:
https://trnto.com/toronto-real-estate-market-down/