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Sales Up 27 Per Cent in First Two Weeks of July

Friday, March 9, 2018   /   by Ruth Ballantyne

Sales Up 27 Per Cent in First Two Weeks of July

GTA REALTORS® report sales up first two weeks of July
TORONTO, July 20, 2009 - In the first two weeks of July, Greater Toronto REALTORS® reported 4,437 sales up 27 per cent compared to the first two weeks of July 2008. The average price for these transactions was up four per cent year-over-year to $394,750.
"The resurgence in home ownership demand experienced in the spring has continued into the summer. Home buyers continued to take advantage affordable market conditions in the first half of July," said TREB President Tom Lebour. "If the mid-month results carry forward, we may see the best July on record."
Year-to-date sales, at 45,213 are down four per cent compared to 2008. Average price, at $384,645 is down one per cent.
"The GTA housing market has held up very well this year given the current economic climate, especially relative to past economic slow-downs," explained Jason Mercer, TREB's Senior Manager of Market Analysis.
"The cost of borrowing has been key. With inflation in check, the Bank of Canada has been able to aggressively lower interest rates – an option that wasn’t available in the early 1990s or early 1980s."
Summary Of July Sales And Average Price
July                                                         2009                                                                       2008
                  #Sales                      Average Price                       #   Sales                          AveragePrice

("416")    1,703                         $419,754                                   1,369                            $419,199

("905")    2,734                       $379,174                                    2,128                            $353,257

GTA         4,437                      $394,750                                     3,497                           $379,072
Source:  Toronto Real Estate Board
Ballantyne Professionals | RE/MAX Realty Services Inc.
Ruth Ballantyne
295 Queen Street E
Brampton, ON L6W 3R1
905-456-1000

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2021 Last Updated May 15, 2021
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