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Toronto Market Watch: July 2013

Toronto Market WatchLow-Rise Market Conditions Remain Tight in June

July 4, 2013 — Greater Toronto Area REALTORS® reported 9,061 sales through the Toronto MLS system in June 2013 – down by less than one per cent compared to June 2012. Over the same period, new listings were down by a greater rate than sales, suggesting market conditions became tighter.

Toronto Real Estate Board President Dianne Usher says a growing number of home buyers,  put their purchase on hold due to stricter lending guidelines, now reactivate their search, the expectation is for renewed growth in home sales in the second half of 2013. The average selling price in June was up by 4.7 per cent year-over-year to $531,374. In line with the 2013 norm, June price growth was driven by the single-detached and semi-detached market segments, particularly in the City of Toronto. Over the same time period, average condominium apartment selling prices remained in line with 2012 levels.

Read the full report from the Toronto Real Estate Board here.

Red Barrinuevo | Your Toronto Home Stager

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