Toronto’s roller-coaster real estate market took a swoop lower in August, the fourth-straight month that the average sales price in Canada’s largest city declined from a dizzying record high set in April. According to RBC economist Robert Hogue, Toronto is likely to mimic Vancouver’s experience in the wake of market-cooling policy. TREB said that the average price had been affected by fewer high-end home sales last month compared with a year earlier. Condo apartments, which accounted for 31.4 per cent of the volume, had an average price of $507,841 — up 21.4 per cent from August 2016. The real estate board said the number of new listings last month was 11,523, the lowest for an August since 2010.

Source: thestar September 06, 2017 21:56 UTC