Toronto Property Market Trend

Prices Ease in July

Prices declined marginally in July, falling one per cent to $312,418 from the $316,510 recorded in June. A continued high level of inventory (22,368 active listings, unchanged from June) has contained price pressures. This is welcome news for buyers. Prices were up eight per cent over July of 2003.

Sales continued strong last month, with 7,329 single-family dwellings changing hands through the TorontoMLS system, the second best result ever recorded for a July. That's a very strong number for a summer month, and second only to July 2003 when 8,084 sales were recorded. In addition, year-to-date sales are up 10 per cent over the 48,622 recorded in the January-to-July period of 2003.

Breaking down the total, 2,765 sales were reported in the west districts and averaged $296,221; 1,189 sales were reported in the central districts and averaged $392,189; 1,488 sales were reported in the north districts and averaged $345,998; and 1,887 sales were reported in the east districts and averaged $259,409.

Neighbourhood Corner
North York

So far in 2004 North York has seen 4,355 sales of single-family dwellings, up 17 per cent over last year. The 2004 average price comes in at $397,082, up marginally from the $395,619 recorded in the first seven months of 2003.