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TORONTO — After 16 years, Dina Alker is going to put her house in Toronto up for sale Monday, joining the throngs of others in the city who have decided to downsize as a chill gripping what was once one of the hottest real estate markets in North America takes hold.

“I’m at a turning point in my life,” said Alker, 58, who plans to buy a condo.

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“It’s a big responsibility in a house. You’re never really worry-free.”

Alker is unfazed by data released Thursday showing that sales in the Greater Toronto Area tanked last month by 40.4 per cent compared to July 2016 after a bout of frantic buying at the start of the year. Instead, she sees a silver lining — prices dipped for the third consecutive month.

“It may be not as favourable (to sell), but when I go to buy, there’s an advantage there.”

The decline in property transactions was driven by fewer sales of detached homes in Toronto and its surrounding areas, the Toronto Real Estate Board said.