File photo of various real estate signs advertising homes for sale, or sold, in Toronto.Peter Power/The Globe and Mail
The number of existing homes that changed hands in the Toronto area during July rose 10 per cent from a year earlier.
That made it the second-highest July sales level on record, the Toronto Real Estate Board (which represents local realtors) said Thursday.
There were 9,198 home sales over the Multiple Listing Service, significantly higher than the average sales level for July over the past decade, which is 7,926.
The average sales price came in at $550,700, up 7.5 per cent from a year earlier. The average selling price of detached homes in the downtown area covered by the 416 area code rose 11 per cent to $880,433, while the average selling price of condos in the same area rose 4.7 per cent to $379,002.