The average home price was $433,367 in August according to CREA. This was down 1% from July and is a year-over-year increase of 8.7%. Large price gains continue to be concentrated in the Greater Toronto and Vancouver areas, while most other markets posted more moderate price increases. In fact, excluding Toronto and Vancouver, the average price increased only 4.2% year over year in August.
42,965 homes sold in August according to seasonally adjusted data released by The Canadian Real Estate Association. This is an increase of 0.3% from last month and an increase of 1.7% from August of last year.
A seasonally adjusted 75,749 homes came on the market in August, decreasing the sales-to-new-listings ratio to 56.7%.
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