GTA Housing in July

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By Elli Davis, August 12, 2010

Fallling down by Le Vent Le Cri

Here’s some fresh GTA housing news just for you! As Greater Toronto Realtors reported, 6,564 sales were recorded in the area last month. That is a very significant drop from last years’ numbers! Just take a look: exactly 9,967 homes were sold in GTA last July, which makes a 34 percent difference.

A big fall was seen in new listings, too. Their July 2010 level, 10,825, is actually the lowest one recorded for this month since 2002. However, overall sales during the first seven months of this year rose by 12 percent compared to the same period last year. Regarding financial matters, the median price this past month was $361,000, increasing from $339,900 seen in July 2009. The average price for a sale was $420,482 this July, up 6 percent from last July. If comparing the first seven months of 2009 and 2010, the average price rose by 12 percent this year, to $432,253.

Not very pleasant results! The only increasing component is the price. Although I am not really surprised, are you?