Friday, March 9, 2018 / by Ruth Ballantyne
TORONTO, 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 by 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
“Market conditions promoting annual 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.