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04 August 2017

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.