Sales and Prices of Toronto-area home down from year ago levels

The Toronto Real Estate Board says home sales in April were down 32.1 % compared with a year ago.

The board says there were 7,792 homes sold through its MLS system last month compared with 11,468 a year ago.

The average selling price was $804,584, down 12.4 per cent compared with the same month last year.

However, the MLS home price index composite benchmark, which strips out the impact of changes in the mix of home sales, was down 5.2 per cent compared with a year ago.

The Toronto board says that on a seasonally adjusted basis the month-over-month changes in sales and the average selling price were minimal compared with a steeper drop-off in January and February.

The board says compared with March, sales slipped 1.6 per cent lower, while the average selling price fell by 0.2 %

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