Greater Toronto Area home sales down 2% in August, prices dip below $1 million: board

The Toronto Regional Real Estate Board reported that home sales in the Greater Toronto Area declined in August, with 5,057 transactions recorded. This figure represents a 2.1 percent decrease compared to the same period last year and a 1.3 percent drop from July figures.

Alongside the reduction in sales volume, market data indicates that average home prices in the region have fallen below the $1 million threshold. These trends reflect a continued cooling in the local housing market as the summer season concluded.