According to Toronto Real Estate Board, REALTORS® in Toronto reported 6,564 sales in July – a 34% dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped to the lowest level for the month of July since 2002.“The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring,” said Toronto Real Estate Board (TREB) President Bill Johnston.
Total sales through the first seven months of 2010 were up by 12% compared to the same period in 2009.
Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average price for July transactions was $420,482, representing a 6% increase over July 2009.
Over the first seven months of 2010, the average selling price was up 12% annually to $432,253. While July sales were down compared to last year, the number of new listings in the market place also fell.
Read More at:
http://www.torontorealestateboard.com/consumer_info/market_news/news2010/pdf/nr_market_watch_0710.pdf
