Home sales in the Greater Toronto Area (GTA) rose 2.3% in August from a year earlier, according to the Toronto Regional Real Estate Board (TRREB).
However, the average sale price of a home in the Toronto region fell 5.2% in August from last year to $1.02 million.
The real estate board added that new listings were up 9.4% from a year earlier to 14,038 and active listings were up 22.4% from last year with 27,495 homes on the market.
TRREB said that further interest rate cuts from the Bank of Canada could help offset tariff-related impacts and that increased home sales could help boost the Toronto economy.
Vancouver Sales Rise
Across the country, Vancouver home sales rose 2.9% in August compared with last year as the city's real estate board says the market appears to be gradually recovering from a slump.
Greater Vancouver Realtors says home sales in the region totalled 1,959 in August, up from the 1,904 sales recorded in August 2024, but still 19.2% below the 10-year seasonal average.
Sales of detached and attached homes are up by more than 10% from last year, which suggests buyers shopping for more expensive real estate is improving.
The average price of a home sold in Vancouver during August was $1.15 million, down 3.8% from a year earlier and 1.3% lower than in July of this year as sellers continue to outpace the number of buyers in the current market.
