Greater Toronto real estate attracted some more buyer’s, but not enough to change its trend. TRREB data shows composite home sales made an uptick in December. Despite a small increase in sales, lingering inventory remains higher than usual, pushing prices lower. Having shed a fifth of value since hitting the all-time high, prices are still falling and have rolled back two years of gains.
Greater Toronto Real Estate Prices Are Still Plunging
Greater Toronto real estate prices spent another month dropping even further. The TRREB composite benchmark price fell 1.3% (-$14.1k) to $1.067 million in December. In the City, a similar trend saw the cost of a typical home fall 1.1% (-$11.2k) lower to $1.053 million over the same period. Both measures are within spitting distance of prices last year, varying less than a point.
Greater Toronto Real Estate Prices Are Back To 2021-Levels
The composite benchmark price of a home across Greater Toronto.
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