July real estate statistics from the Toronto Real Estate Board shows that July 2009 was another hotter than normal month! 9,967 sales was just below the sales of the month before but well above the same time last year. Average prices slipped a bit to $395,414. This follows the normal seasonal summer trends.
“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.”