There’s good news this month for Toronto’s real estate market. TREB has released the data for July 2018, and for a second consecutive month, sales were up year-over-year! The 6,961 transactions represent a substantial 18.6% annual gain, making this the largest year-over-year increase in monthly home sales since September 2016. The average price of $782,129 represents a 4.8% jump from last year.
July’s sales mix also reveals an increased appetite for low-rise housing. While all housing categories were up from a year earlier, within the 416, the biggest gains were in townhomes (+30.8%), detached homes (+22%), and semi-detached homes (+16.9%), compared to condos, which were up a more modest 5.8% from July 2017.