July Real Estate Update

In July 2014, sales were up by 10% through Toronto MLS with 9198 sale transactions. This was the second best July on record for the Toronto area. 

Right now, there is very strong demand for homes in the GTA with the number of sales outpacing the number of new listings. This has resulted in price growth well above the inflation rate. The average selling price in July 2014 was 550,700. This is up by 7.5% compared to July of last year. That increase was made up of condo’s that had an average selling price increase of 5.3% and detached homes had an increase of 11% compared to last July. The strong demand for homes currently supports this price growth seen over the past year.

Raj Sandhu

Raj Sandhu

REALTORĀ®
CENTURY 21 People's Choice Realty Inc., Brokerage*
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