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Toronto Home Sales Drop 37%

GTA Realtors Report Mid-Month Resale Housing Figures

Greater Toronto Realtors reported 2,790 sales through the Multiple Listing Service® (MLS®) during the first two weeks of July 2010. This represented a 37 per cent decrease compared to the 4,437 sales recorded during the same period in 2009. New listings decreased by eight per cent annually to 5,184.

“Last summer existing home sales spiked well above the expected long-term trend. Sales were also unseasonably high during the first four months of this year,” said Toronto Real Estate Board President Bill Johnston. “Transactions will be down yearover- year in the second half of 2010 as the level of sales balances out.”

“With year-to-date sales up by more than 18 per cent compared to last year, we continue to look forward to one of the best years on record under the current TREB trading area,” continued Johnston.

The average price for July mid-month transactions was $427,931 – up eight per cent compared to the average of $394,750 recorded during the first 14 days of July 2009.

“The average home selling price in the GTA will continue to grow on an annual basis in the second half,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Even with the pace of transactions slowing, there will be enough sales relative to listings to support sustainable rates of price growth.”

Source: Toronto Real Estate Board

July 19, 2010 in Toronto Real Estate Update | Permalink


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Its a very drop if it is 37%. It will be a very down to the real estate market.I want to know whether any specified reasons have behind this dry? I think it will be okay at the ending of 2012. But in my opinion Luxury Condos and apartments are now very demanded now.That's good!!

Posted by: Luxury home sales Toronto | Jul 4, 2012 5:25:04 AM

Property owners have the option of requesting a notice of assessed value for their property annually. Section 25.19g of the Texas Property Tax Code provides the owner the option to request a written notice of the assessed value from the chief appraiser. Owners benefit from requesting and receiving a written notice of assessed value for each property because it ensures they have an opportunity to review the assessed value. This notice should be sent on an annual basis. The appraisal district does not have to send a notice of assessed value if the value increases by less than $1,000. However, if an owner was not satisfied with a prior year's value and the value remained the same, the appraisal district probably will not send a notice of the assessed value for the current year. In this situation, the owner might forget to protest since a notice of assessed value for the property was not received.

Posted by: GreenlightProperties | Aug 29, 2010 12:14:39 AM

A 37% decrease in home sales is a huge drop. Im definitely interested in seeing how the market will figure in 2011. Its sad to see Toronto in that type of market decline.

Posted by: Foreclosures | Aug 11, 2010 3:39:15 PM

Global Real Estate Appreciation Party appears to be over. Time to pack up.


Posted by: Finance | Aug 5, 2010 12:26:16 AM

Many states are already experiencing the same situation. With the trend being in shown in real estate sales data, it is most likely to last longer than expected.

Posted by: Real Estate Investing Help | Jul 29, 2010 10:12:59 PM

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