Listings down as prices creep up year-to-year says TREB

The Toronto Regional Real Estate Board says August home sales slowed from the frantic pace seen earlier in the year, but market conditions have tightened as supply fell by 43 percent and prices rose yet again. The Ontario board announced Friday that 8,596 homes were sold in August, a 19.9 percent drop from 10,738 at the same time last year and an eight percent fall from 9,368 in July. New listings in the region fell to 10,609. That was down 43 percent from 18,599 last August and 15 percent from 12,551 in July.