Toronto real estate market report for July 2016

Toronto Real Estate Report

Here is the report for Toronto real estate market for July 2016. As per the Toronto real estate Board, the total home sales through the MLS system in July 2016 was reported to be 9,989 just shy off 10,000 transactions. While the sales were up on a year-over-year basis, the new listings were down over the same period. This year two has been the year of Sellers where we are seeing fewer listings available in the market with multiple offers. The demand for detached and semi-detached homes in the greater Toronto area has been ever increasing. The average selling price for all home types combined was up by 16.6% year-over-year to $70,0825. Although this is a healthy sign for the economy in the real estate market, the number on the same time also shows a disturbing trend of home price shooting beyond the reach of a common man. In July 2016, 954 detached homes were sold in the Toronto area while in the GTA area around 3699 detached homes were sold. Similarly, 285 semi-detached homes were sold in the Toronto area while 678 semi-detached homes were sold in the greater Toronto area. Coming on to the town houses, 346 homes were sold in 416 area while 1202 town houses were sold in the 905 area. With regards to the condo apartments, 1882 condos were sold in the 416 area while 783 condos were sold in the 905 area. Area wise, the Horton region sold 870 homes, the peel region sold 2219 homes, city of Toronto sold 3500 homes, the York region sold 1878 homes, the Durham region had a count of 1200, the Dufferin County sold 71 homes while Simcoe County had the score of 251 homes sold at during July 2016.