Toronto home sales fell 2.1% year-over-year to 5,057, with a 1.3% drop from July. The average selling price declined 2.7% to $993,410, and the benchmark price dropped 4.5%. This marks the second time this year the average price fell below $1 million. Market slowdown is attributed to seasonal fatigue, but affordability has improved due to lower prices despite higher mortgage rates. Slow, steady price growth is expected.
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