According to Toronto Regional Real Estate Board's (TRREB) data, home prices in the city rose by 1.1%, around $12,400.
However, the average sold price saw a 17.9% YoY decline.
This is the first time city's home price trend has changed course after rate hikes began in March 2022.
- Experts consider February and March trends as extreme data points, reflective of an outer scenario or a market in a state of mania.
- TRREB's sales to a new listing ratio (SNLR) fell to 46.6% last month, lower than the previous month and around 30 points below last year's.
- Active listings climbed 38.1% to 9,643 homes, and sales dropped 47% to 4,783 units.
