Monthly Report of Resale Housing in GTA in the Month of July,2010

TORONTO, August 5, 2010 ‐ Greater Toronto REALTORS® reported 6,564 sales in July – a 34%
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% 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 6% increase over July 2009.
Over the first seven months of 2010, the average selling price was up 12% annually to
$432,253.
“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.

For Further Information Contact:
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Website: www.zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Road, Mississauga, L5M 7A1