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Toronto Real Estate Board Marketwatch Report
Home sales in the GTA in August dropped 5.2% at 5,294 compared to sales of 5,584 in August 2022. Higher borrowing costs and continued uncertainty about the economy contributed to fewer home sales in August.
New listings were up by 16.2% with active listings at the end of August being 12,296 compared to 10,578 in August 2022. The summer saw more of a balanced market resulting in a slight dip compared to July and remaining at the same level as last year.
Average sales price was up 0.3% from $1,079,048 in August 2022 to $1,082,496 in August 2023.
Average days on the market for August 2023 is 20 days compared to 22 days in August 2022 - a decrease of 9.1%.
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