The Toronto Regional Real Estate Board said home sales in the Greater Toronto area fell roughly 2% in August, and the median price of a home slipped to under one million dollars.
A total of 5,057 residential properties changed hands during the month. Compared with August of the previous year, that volume represents a 2.1% drop, while the August figure is also 1.3% lower than the 5,715 sales recorded in July.
The median price for a home in the Toronto market moved below the $1,000,000 mark for August. The shift signals a modest decline from the previous month’s median, which had been just above the million‑dollar threshold.
The Toronto Regional Real Estate Board, the organization that tracks and publishes local housing market data, released the August report as part of its regular monitoring of activity across the region. The board’s figures show a slight softening in both transaction volume and price levels as the market adjusts to current conditions.
Overall, the August data suggest a modest cooling in Toronto’s real‑estate market, with fewer homes sold and the median price breaking the psychological $1 million barrier for the first time this year.