July 2014 was the second best July in terms of number of sales ever. TREB reported sales were up by 10 per cent to 9,198 in a year-over-year comparison. The sales were up strongly for the most of major home types.

The Jubilant Man by Benson Kua

The average selling price in July was $550,700, a 7.5 per cent increase, compared to July 2013. The strongest price growth was reported for the detached market category, with a year-over-year increase of 11 per cent.

Despite the high prices, the demand for ownership housing is still strong. There continues to be a great deal of confidence in investing money and future in real estate. Many people are choosing to stay in the city and putting value on less commute, which perpetually has driven the market up.

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