Greater Toronto REALTORS® release July Resale Market Figures 

Toronto, August 4, 2011 – Greater Toronto REALTORS® reported 7,922 sales through the TorontoMLS® system in July 2011, a 23 per cent increase over July 2010, a very slow month. Total sales to date 2011 55,863 – down by 1.3 % over the first 7 months of 2010. The Board is predicting close to 90,000 transactions this year. Second best on record.

Condo apartment sales have been especially strong.

Average price for July was $459,122 – up by 9.7% compared to the July 2010 average of $418,675.

Market conditions are still tight, leading many multiple offer situations and the ensuing competition between buyers and sellers driving the year on year increase.

Some relief may be in sight as the number of new listings increased from10,825 in July 2010 to 12,508 this July.

Summary of TorontoMLS® Sales and Average Price  July 2011

2011                                           2010

                                                           Sales           Average Price            Sales             Average Price

City of Toronto ("416")                         3,072             $475,717                  2,542               $443,000

Rest of GTA ("905”)                            4,850            $448,612                   3,883               $402,751

GTA                                                    7,922             $459,122                  6,425               $418,675