03/05/2013 07:27 EST | Updated 05/05/2013 05:12 EDT

Toronto Real Estate: Home Sales See 15 Per Cent Drop From Year Ago

Flickr: sheyneg

TORONTO - The number of homes sold last month in the Toronto area was down about 15 per cent from the same time last year.

The Greater Toronto Area Realtors association says there were 5,759 sales through the Toronto Multiple Listing Services in February.

That's down from 6,809 in February 2012, when the month had an extra day.

The lower sales volume continues a months-long trend in Toronto.

However, prices continued to go up.

The association says the average transaction price last month in the Greater Toronto Area was $510,580, up from $510,249 in February 2012.

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