Home Sales Down! Prices Up!
I am Annette Gole with Re/Max Realty Enterprises and in this video I will review the TRREB Market Stats for July 2021 and what it means to you!
While Home sales soared at the start of the year, that has come to a rest, at least for now.
July sales were down compared to last year and lower than the # of transactions in June. Even though sales are down, I need to mention that they are still above average! The average selling price increased by double digits compared to last year. Up by 12.6% to an average selling price of $1,062,256.
Due to the number of listings being down and therefore the number of sales; properties are selling faster! The average for July being 20 days versus 25 days last year.
While we continue to see price growth in the low rise market, I need to mention that we saw very strong year over year condo sales. Both in Toronto and some of the surroundong suburbs, up by 155%, and that the average price uo to $686,312.
Urbanations second quarter survey shows that the condo market has fully recovered from the Covid 19 lull and since returned to near record high sales volume. The Toronto Condo Comeback is here to stay!
In all major markets the year over year growth in sales are out pacing growth and new listings over the same period, which leans towards continuation of a tight market.
So the persistent lack of inventory means competition between buyers and an average selling price way over a million through the rest of this year.
If you would like to know what has sold in your area, send me a message and I would be happy to get that to you. If you are thinking of buying or selling lets book a consultation and review your options.
Meanwhile, Stay Safe and enjoy these beautiful summer days!
As we begin to see warmer temperatures could the market be cooling off? I am Annette Gole with Re/Max and in this video I will be reviewing the Market Stats for April 2021. Total Residential Sales dipped slightly in comparison to March by 19.7%, The average selling price saw a decline of 3.6%. While things may be cooling off a bit, selling prices still remain very high. In fact an increase of 30% in comparison to last April. For a full report please visit my website. If you have any questions or are considering buying or selling please contact me at 905-855-2200 or through my website at annettegole.ca. Meanwhile Stay Safe and I hope to see you soon!
Real Estate Websites by Web4Realty