As we enter the dog days of summer, the GTA real estate market continues its strong pace. With 8,595 sales reported in July, there was a 24.3% increase in sales volume over the same period last year. Total sales for 2019 are now up 12.1% year-over-year.
The average price of all transactions was $806,755 — a second straight monthly decline — but still representing a healthy annual gain of 3.2%. Prices continue to be driven by the high-density market, which include semis (+5.3%), towns (+4.3%) and condos (+6.7%). Average price growth was held in check by single detached homes which were down 0.9% for the GTA and down 9.1% in Toronto.