Greater Toronto housing market sees best July in four years: real estate board
The Toronto Regional Real Estate Board says sales were up 13 per cent from June on a seasonally adjusted month-over-month basis, as improved affordability driven by lower prices and borrowing costs 'is starting to translate into increased home sales.'
The average selling price decreased 5.5 per cent compared with a year earlier to $1,051,719, and the composite benchmark price, meant to represent the typical home, was down 5.4 per cent year-over-year.
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TRREB president Elechia Barry-Sproule says 'it's clear that a growing number of households are finding affordable options for home ownership' but cautions that more relief is required to spur the market, 'particularly where borrowing costs are concerned.'
The board says 17,613 properties were newly listed in the GTA last month, up 5.7 per cent compared with July 2024.
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The number of active listings reached 30,215 last month, up 26.2 per cent from last year's inventory of 23,936 homes.
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