TREB: JULY SALES DROP, NEW LISTINGS SLOW

Aug 03, 2017

By Bob Komsic

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Home sales continued falling across Toronto last month and the number of new listings also decreased as more owners are waiting for a better time to go to market.
(Darren Calabrese for the Globe and Mail)
The Toronto Real Estate Board reports the average price of all types of housing sold in the GTA was $746,218 – down 19% from the peak month in April, when the average price was nearly $921,000 and off 6% from the average price in June.
The price fell as sales dropped 40.4% in July compared with a year ago.
The biggest decline was for detached homes, which saw 47.4% fewer transactions.
The market’s seen sales slide since the provincial government announced a package of measures in April aimed at cooling house prices in the region, including the 15% tax on foreigner buyers.
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