Toronto Real Estate Board issued regular monthly report for July 2009. Everybody who is at least a bit informed about the market activity in Toronto (respectively in the whole Canada) knows the situation has been quite wild. However, development during the last 3 months shows us finally calm and perspective development. Let's run quickly through July numbers.
Sales were up 28%, new listings dropped -18%, active listings shrunk -36% and Days on Market are down to 31 days, all compared to the same month of 2008. Average and also median prices rose (average price reached $395414, +6% compared to July 2008) indicate rising confidence around the market.
Market in Toronto is back on the track. We can probably expect steady, respectively slightly growing situation till the end of 2009. As told by TREB president Tom Lebour:"Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA."