Market Continued to Adjust in July

On August 4, 2017

Sales reported in the Toronto Real Estate Board (TREB) MLS System for July 2017 were down by just over 40% on a year-over-year basis. The average selling price for all home types combined was up by 5% compared to July 2016, but has dropped $175,000 since April. The number of new listings rose by 5.1% while active listings were up significantly from July 2016, benefiting buyers with more choice in the market, at least for the short term based on current pace of sales activity.