Toronto, August 6, 2009 – In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28% from July 2008. The average price for July transactions was $395,414, up by 6% compared to the same month last year.
Year-to-date sales at 50,632 are down 1.2% compared to the first seven months of 2008. The average price at $385,808 is down by less than .05%.
“The steep drop-off in sales experienced at the beginning of the year has all but dissipated,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “With five months left to go in the year, it is probable that total existing home sales in 2009 will be at or above last year’s level.”
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