New construction home sales — houses and condos — declined by 48 per cent in January in the Toronto region, compared to the frenzied real estate market in the same month last year. The single-family benchmark home price rose 19.6 per cent year-over-year last month to $1.23 million — up from about $1 million last January. Condo prices climbed about 41 per cent year-over-year to a benchmark of $714,430, said the Building and Land Development Association (BILD). Article Continued BelowOf the 1,251 new construction homes sold last month in the Toronto region, only 365 were single-family units. Condo sales were down 47 per cent year-over-year, 5 per cent below the 10-year average.

Source: thestar February 22, 2018 19:41 UTC