TABLE-Toronto home sales drop in August but listings plunge lifts prices

  • 9/3/2021
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TORONTO, Sept 3 (Reuters) - Home sales across Toronto, Canada"s most-populous city, fell 20% in August from a year ago, but a sharp drop in listings to their lowest level in a decade drove prices higher, data from the Toronto Regional Real Estate Board showed on Friday. Listings plunged 43% from a year ago, helping lift prices 12.6%, with detached homes continuing to drive price growth even as their sales dropped. Condominiums were the only type of property whose sales increased from a year ago. TRREB President Kevin Crigger called on political parties campaigning ahead of the Sept. 20 federal election to prioritize working with provincial and municipal governments to solve housing supply problems. AUGUST JULY AUGUST 2020 YR/YR PCT CHANGE TOTAL SALES 8,596 9,390 10,738 -20.0% AVERAGE PRICE C$1,070,911 C$1,062,256 C$951,219 12.6% NEW LISTINGS 10,609 12,551 18,599 -43.0% After preliminary seasonal adjustment AUGUST MTH/MTH PCT CHANGE SALES 8,579 -2.7% AVERAGE PRICE C$1,100,820 2.4% Sales by type of property AUGUST YR/YR PCT CHANGE DETACHED 3,704 -31.5% SEMI-DETACHED 750 -29.3% TOWNHOUSE 1,509 -19.0% CONDO APARTMENT 2,544 11.3% Average price by type of property AUGUST YR/YR PCT CHANGE DETACHED C$1,423,807 21.4% SEMI-DETACHED C$1,031,580 13.9% TOWNHOUSE C$ 873,961 17.7% CONDO APARTMENT C$ 688,568 9.4% (Reporting by Nichola Saminather in Toronto; Editing by Peter Cooney)

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