The Toronto and area residential resale market continue to astound. July broke records for sales (11,081 properties), and average sale prices ($943,710). In the City of Toronto the average sale price reached $1,017,320. Pent up demand, historically low mortgage interest rates (under 2 percent) the industry’s ability to adopt to restrictive and protective showing conditions, and lack of supply have created a market frenzy. Very early August data indicates that there will be no let up in the near future.
Click July 2020 Toronto Market Report to view the full report by our President and CEO, Chris Kapches.