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Toronto home sales stronger in July

Greater Toronto Realtors reported 7,922 transactions through the Toronto MLs® system in July 2011, representing a 23 per cent increase over July 2010. Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 per cent compared to the same period in 2010. After adjusting for seasonal fluctuations, the July figure continued to point to an annual sales result close to 90,000 – in line with results from the previous six months.

"Strong home sales continued in July, with a substantial rebound over last summer’s slow-down brought about by higher mortgage rates, new lending guidelines and misconceptions about the HST. The greatest rebound was seen in the condominium apartment segment in the City of Toronto," said Toronto Real Estate Board President Richard Silver. "If the current pace of sales holds up, we could see the second best year on record under the current TREB market area."

The average selling price in July was $459,122 – up by almost ten per cent compared to the July 2010 average of $418,675.

“Tight market conditions have boosted the annual rate of price growth this year. However, the listings situation is starting to improve. A better supplied market later this year and into 2012 would lead to a more sustainable rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

See Toronto Real Estate Market Watch report »

August 4, 2011 in Toronto Real Estate Board | Permalink


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This being an old post, can you pls update us with the recent development in the Canadian real estate. I am really worried about it since my aunty is a citizen of Canada and she has invested a lot in this.

Posted by: I want to sell my house quickly | Jan 22, 2013 2:24:39 AM

Great to know that the real estate in Toronto is booming! :)

Posted by: Angel | Aug 31, 2012 2:31:42 AM

Green Shoots today, show unemployment levels at a new recent low and production increasing, more green shoots to come, toronto will be on the up

Posted by: Sell House Online | Mar 7, 2012 6:44:25 PM

Nice Article

Posted by: Matt Pernice | Nov 11, 2011 2:18:41 PM

This is great news!

Posted by: Owner Financed Homes Austin | Oct 10, 2011 9:13:15 PM

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