GTA Resale Housing Sales - Stable in July

There was moderate activity in July with over 7000 real estate transactions recorded. House prices slightly increased to less than 1% from a year ago in Toronto (GTA at $395,000 the average price) and 3% in the Mississauga, Oakville, Brampton and other 905 regions (the average price at $355,000).

Housing prices continue to be stable and sales are at a slower but moderate pace. There was a 12% decline in the number of homes sold when compared to the record set last July in Toronto.

Certain neighborhoods throughout the GTA experienced increased sales activity in July such as Whitby, Brampton East, Uxbridge and the Annex.

Price remain stable with the list to sale price ratio at 98% and the average time on the market at 33 days.

There is now more choice available to homebuyers as there is currently over 26,000 active listings. This is a 28% increase from a year ago.

GTA homebuyers continue to recognize the value of real estate as a long-term investment and are enjoying the selection of the increased available properties to choose from.

Planning to buy or sell? Call Leif Kalaas Your Right at Home Realty - Realtor