The average price of a Toronto home dipped in March as a slight cooling of activity allowed the pace of new listings to close the gap with sales, even as the market remained heavily tipped in sellers’ favour compared with historic standards.
The average home price in Canada’s largest city dipped 2.6% to just under CA$1.3 million in March from the month before, data released Tuesday by the Toronto Regional Real Estate Board show. The number of sales fell 30% from last year as new listings declined 12% in the same period, affording buyers slightly more choice than they enjoyed when Toronto posted its most-active March market on record in 2021, according to the report.
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