'Sell first' says Toronto realtor as higher interest rates, rising inflation cool city's housing market

As Toronto's once-hot real estate market continues to shows signs of cooling, one realtor says sellers are growing increasingly “desperate."

On Wednesday, the Toronto Regional Real Estate Board said home prices in the GTA dropped for the fourth consecutive month in June by just over 41 per cent compared with the same month last year. Roughly 6,500 homes were sold in the Toronto area last month compared to just over 11,000 in June 2021, TRREB said.

With that in mind, he said his “number one” piece of advice for prospective purchasers is to sell your current property first then buy your new one.

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