As of July 2012, Greater Toronto Realtors reported a 1.5% decline in unit sales year over year

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  • 03 Sep 12

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The most pronounced decline was seen in the condominium apartment segment in the City of Toronto. Total sales in the rest of the Greater Toronto Area (GTA) were up compared to the same period last year.

YTD annual sales growth was been very strong, with sales peaking early in spring. There has been a slowing of volume in sales this summer. New mortgage guidelines have also contributed to this moderating market effect.

Average Sale Price Up 4% in July

The average selling price for all types of homes was up 4% compared to July 2011. The average price for a home was $476,947 for July 2012; the average price July 2011 was $458,646.

The market has become balanced with more supply in recent months. This is good news for buyers as there has been more choice resulting in a reduction of pressure on the average home price in July.

1Real Estate Monthly July 2012