« Toronto real estate market still hot | Main | Canadian home sales stable in July »
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
TrackBack
TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c51e453ef014e8a601839970d
Listed below are links to weblogs that reference Toronto home sales stronger in July:
Comments
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
The comments to this entry are closed.
