In July, 9,390 properties were sold in the GTA; a 15% of decline from the record setting in July of 2020. However, volume remains higher than is typical this time of the year. In terms of price, the average price across all property types continues to climb hitting 1,062,256 which is 12.6% higher than a year ago. Our stats indicate that the market remains competitive and houses are selling faster than they did in July 2020. Last month, the total days on market for all sold property types across the GTA was 15 days; an 11% decline over last year. The bottom line, in the absence of greater supply, the market will remain competitive and pressure on pricing will continue once the return of population growth begins later 2021 and into 2022.
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