Nationally, the average Canadian home sale price in February 2024 was $719,400, -11.9% from the cycle peak of $816,720 in February 2022. {chart} Year-to-date, sixty percent of homes in the Greater Toronto Area sold below their asking price, 71% in Vancouver, and 48% in Calgary (the trend over the past three years is shown below). The average number of days a property spends on the market in the GTA rose 13.6% over the past year (TREB). {charts} Bidding wars are less common than when interest rates were lower, and conditions like property inspections and financing approvals are once again typical. Still, most markets ... (full story)