Home sales in the Greater Toronto Area surged by 10.9% in July, with 6,100 properties sold, marking the highest activity in July since 2021. Compared to June, sales rose 13% on a seasonally adjusted basis, driven by improved affordability due to lower prices and borrowing costs. The average selling price fell by 5.5% year-over-year to $1,051,719. New listings increased by 5.7% from the previous year, with a total of 17,613 properties listed, contributing to a rise in active listings to 30,215 homes, up 26.2% from last year.
Greater Toronto Area home sales rose 10.9 per cent in July compared with a year earlier as 6,100 properties changed hands, the most activity recorded in the month since 2021.
Sales were up 13 per cent from June on a seasonally adjusted month-over-month basis, as improved affordability driven by lower prices and borrowing costs is starting to translate into increased home sales.
The average selling price decreased 5.5 per cent compared with a year earlier to $1,051,719, and the composite benchmark price was down 5.4 per cent year-over-year.
Seventeen thousand six hundred thirteen properties were newly listed in the GTA last month, up 5.7 per cent compared with July 2024.
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