Real Estate News

Real Estate Market Report July 2018 GTA

Real Estate Market, July 2018, GTA.
The Toronto Real Estate Board (TREB) announced strong growth in the number of home sales and the average selling price reported by Greater Toronto Area in July 2018. 
Residential sales reported through TREB system for July 2018 amounted to 6,961 up 18.6% compared to July 2017. Over the same period, the average selling price was up by 4.8% to 782,129 $, including a moderate increase for detached home types.
New listings in July 2018 were down by 1.8% Year-over-Year. 
We have certainly experienced an increase in demand for ownership housing so far this summer. It appears that some people who initially moved to the sidelines due to the psychological impact of the Fair Housing Plan and changes to mortgage lending guidelines have re-entered the market. Home buyers in the GTA recognize that ownership housing is a quality long-term investment. 

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