It was a busy July for Toronto real estate sales

It wasn’t your typical month of July when it came to housing sales activity. Year-over-year activity was up a staggering 24.3% from July 2018, and even up 5% over June’s sales. Now that has happened in at least the past 10 years, probably even longer, as I got tired of looking and stopped at the 2009 numbers.

Prices also rose 3.2% which is no surprise since active listings were down -9.1%. With less supply to choose from, prices will rise.

The global markets seem to be fragile with all of this trade fighting between the United States and China. But it hasn’t affected our local real estate market yet.

With lower inventory, expect continued price gains and multiple offer situations come September when the real estate market typically picks back up from our summer slumber. Will the push into July be the same for August’s numbers? Well we’ll know in a few weeks time.

Until then, enjoy the remainder of our beautiful summer weather.

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