The Toronto Real Estate Board reported 3,679 sales in first two weeks of July, representing a 5.6% increase compared to the first 14 days of July 2011. The average selling price in the first half of July was $473,466 – up by 2.3% compared to last year. Price growth was strongest in the City of Toronto, climbing by 3.5% to $496,645. New listings were up by 14.4% over the same time frame.
“A better supplied market contributed to a slower annual rate of price growth in July relative to the first half of 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As buyers benefit from more choice in the second half of this year, expect price growth to slow to a more sustainable pace.”
“Toronto’s Condo Authority”