The selection of detached homes in Greater Toronto has made a dramatic increase. Toronto Real Estate Board (TREB) numbers show detached inventory reached a multi-year high in January. Rising inventory combined with the second fewest sales since the Great Recession, helped to drop prices back to 2016 levels.

Greater Toronto Detached Real Estate Loses Two Years Of Gains

The price of a typical detached home across Greater Toronto wiped out a couple of years of gains. TREB reported a detached benchmark of $903,800 in January, down 0.04% from last year. The City of Toronto hit $1,089,100, up 0.77% from last year. Prices in the City are now back to February 2018 levels, wiping out almost a year of gains. TREB prices are doing worse, with the benchmark rolling back to December 2016.

Source: Better Dwelling

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