There were 3,679 sales through the first 14 days of July 2012, according to a press statement released today by the Toronto Real Estate Board. That’s a 5.6 per cent increase when compared to the 3,484 recorded in the same period of 2011.
“Housing demand remained strong in the first half of July. Sales growth occurred in the regions surrounding the City of Toronto. In the City of Toronto, where sales were down, the relatively higher cost of home ownership likely prompted some buyers to purchase elsewhere in the GTA. Higher costs in the City of Toronto include the upfront payment of the additional land transfer tax,” TREB President Ann Hannah said in the press release.
Here’s a few more cool stats included in the TREB report:
- The average selling price in the first half of July was $473,466 (up 2.3 per cent from last year)
- Homes sold for 98 per cent of the asking price in 25 days (in line with the same period last year)
- The City of Toronto had the strongest price growth ,increasing by 3.5 per cent to $496,645