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Toronto real estate: Sales down but prices up from last year

The impact of Ottawa’s tighter lending rules really hit home in September with sales down 21 per cent year-over-year across the GTA, according to figures released Wednesday by the Toronto Real Estate Board.

Unlike Vancouver where house prices are starting to slip in the face of a 33 per cent downturn in sales in September, Toronto continues to record strong price gains despite the significant downturn in demand.

The average price of a GTA home was up more than 8.5 per cent in September over last year to $503,662, according to TREB.

Posted: Thursday, October 04, 2012 1:26 PM by Sutton Realty

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