Ottawa Market Report

Home sales in Ottawa were down 20.9 percent for July 2021 from July 2020. The average sales price year-over-year saw the biggest increase with bungalows at 18.6 percent with an average sales price of $648, 689.

Members of the Ottawa Real Estate Board sold 1,724 residential properties in July through the Board’s MLS® System, compared with 2,183 in July 2020, a decrease of 21 percent. July’s sales included 1,312 in the residential-property class, down 20 percent from a year ago, and 412 in the condominium-property category, a decrease of 24 percent from July 2020. The five-year average for total unit sales in July is 1,775.

July’s average sale price for a condominium-class property was $419,545, an increase of 17 percent…

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Toronto Market Report

Home sales in the Greater Toronto Area (GTA) were down 8.6 per cent for July 2021 from July 2020. The average sales price year-over year saw the biggest increase in townhomes which were up 8.5 percent from July 2020 with an average price of $1,172,796.

There were nearly 9,400 sales reported in July 2021 in Toronto. Demand for ownership housing remained well-above average for the time of year despite being below the record July result set a year earlier. Market conditions actually tightened relative to July 2020, with sales accounting for a greater share of new listings compared to last year. The sellers’ market conditions sustained a double-digit annual rate of price growth.

TRREB President Kevin Crigger said that the…

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