Prices for three leading real estate categories fell in October compared to September, data released Wednesday by the Canadian Real Estate Association shows.
Average single-family homes in Ontario fell from $995,500 to $981,700, condos fell from $655,100 to $644,100 and townhouses fell from $737,200 to $724,700.
Compared to October of 2022, the picture is more mixed: single-family homes and townhouses are up about one per cent, using seasonally adjusted data, while condos fell about one per cent.
“We’re only in November, but it appears many would-be home buyers have already gone into hibernation,” CREA chair Larry Cerqua said in a release today.
"The October numbers also revealed some sellers may be shelving their plans until next spring."
Nationally, the number of newly listed properties declined 2.3 per cent month-over-month - the first fall since March — and sales volumes fell 5.6 per cent.
Locally in Niagara Region, single-family home prices fell 1.8 per cent and condos fell 4.2 per cent since October of last year.
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