“Average price for detached homes in downtown Toronto fell 4% in past year” via CBC News

The closely watched Toronto housing market showed signs of a slowdown last month, as the price of benchmark detached homes fell by almost four per cent in the past year, although condos appreciated by more than three times that amount.

The Toronto Real Estate Board said Tuesday the average selling price of a detached home in the 416 area code was $1,283,981 in January, a decline of 3.9 per cent from the same month a year earlier.

Prices for other types of housing, however, were higher. Semis changed hands for an average price of $936,623, townhomes sold on average for $712,186 and condominiums went for $543,279 — increases of 3.7, 8.2, and 15.1 per cent, respectively, over the past 12 months.

Across all types of housing, the average property sold for $736,783 last month. All in all, that’s a decline of 4.1 per cent over the past year.

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