GTA home sales up in March but trending down as COVID-19 pandemic hits
Toronto Regional Real Estate Board says home sales were strong in the first half of March but then started to slow down because of the COVID-19 pandemic.
Sales of 8,012 homes for the whole month was a 12.3 per cent climb from last year.
The board says home sales were up 49 per cent in the first two weeks compared with last year, but sales were down 15.9 per cent compared with last year for the rest of the month.
Board president Michael Collins says that both physical distancing measures and economic uncertainty have led to the slowdown in the market.
New listings for the whole month were up three per cent to 14,424, but listings dropped by 18.4 per cent in the latter half of the month compared with last year.
The board says the average selling price in March was up by 14.5 per cent to $902,680, while the average selling price for the second half of the month alone was up 10.5 per cent.
The Canadian Press
- Q2 condo sales down 50 per cent from last year, but prices are up: TRREB
- Home sales drop 72 per cent in Mississauga amid COVID-19 pandemic
- May home sales up compared with April in Mississauga, but still well below year-ago level
- CREA reports Canadian home sales climb again, set record for August
- Consumers flocked to online shopping as pandemic hit, with e-commerce sales up 99 per cent
- BREAKING: Social gathering limits to be lowered in Mississauga in response to spike in COVID-19 cases
- Peel District schools in Mississauga with reported cases of COVID-19 - September 17
- Dufferin-Peel Catholic District schools in Mississauga with reported COVID-19 cases – September 17
- Mississauga schools in hold and secure due to suspicious activity: Police
- PHOTOS: A look at the most and least expensive homes that just changed hands in Mississauga