Masoud Behbahani
Sales Representative

Kingsway Real Estate
Brokerage

151 City Centre Dr. #300, Mississauga, ON L5B 1M7

Phone: 905-268-1000  Mobile: 416-579-1860  Fax: 905-277-0020

Sales and New Listings Down, Average Price up in July

August 13, 2010

Sales and New Listings Down,

Average Price up in July

 

TORONTO - Thursday, August 5, 2010

 

Greater Toronto REALTORS® reported 6,564 sales in July – a 34 per cent 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 12 per cent 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 six per cent increase over July 2009. Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253.

“Market conditions promoting growth in the average selling price have remained in place  While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Click here for complete MarketWatch.pdf

 

 

Average Price up in July-MarketWatch


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