Toronto Real estate Board reported 2,790 MLS® sales through during the first two weeks of July 2010 representing a a 37 per cent decrease compared to the 4,437 in the same period last year. New listings were down by by eight per cent  to 5,184. Last summer existing home sales were unusually high after a very slow start to 2009 and continued strong throughout the rest of 2009  increasing in intensity through the first 5 months of 2010. Year over year unit sales will be down year in the second half of 2010. Year-to-date sales are up by more than 18 %  2010 will end up one of the strongest years on record probably in the low 80,000 units.
The average price for July mid-month transactions was $427,931 – up eight per cent compared to the average of $394,750 recorded during the first 14 days of July 2009. Growth in average transaction price will slow as  sales of  units declines.

Summary Of July Sales And Average Price

July                                                    2010                                                                2009

                                                        Sales               Average  Price                   Sales                  Average  Price
                                                                                                                                                       
      City of Toronto    ("416")            1,115                        $458,426                 1,703                       $419,754
        Rest of GTA      ("905")            1,675                        $407,631                 2,734                       $379,174
      GTA                                           2,790                        $427,931                 4,437                       $394,750

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