The GTA Real Estate Market continues to signify high demand along with decreased supply, with the number of sales down by 2805 from last month. Prices on the other hand, continue to increase year over year, remaining relatively the same a, last month only down by .2%.
Single-detached houses, Semi-detached houses and townhouses are the main focus of low supply and pent-up demand. This is resulting in price increases over 16% from July of last year, which is significantly above inflation. Hopefully the scarcity of available low-rise homes and demand will result in more new development permits and builds across the GTA and surrounding regions in 2017.
Condos continue to see increased activity and healthy value increase at 9.2% across the GTA and a 13% jump in the 905 areas when compared to July of last year. (next page for full breakdown)