Greater Toronto Area home prices fell almost 18 per cent from last February as the number of properties sold was halved, the region's real estate board said.
The Toronto Regional Real Estate Board said Friday that the average selling price for February totalled $1,095,617, roughly five per cent higher than the average January price of $1,038,390.
February's pricing data signals average selling prices are levelling off after trending lower through the spring and summer of last year, TRREB said.TRREB found the share of home purchases below $1 million sat at 57 per cent last month, up from 38 per cent during the same time period last year. New listings also lag figures from a year ago, amounting to 8,367 in February. That number is down 41 per cent from a year earlier, but TRREB sees changes coming.
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