July 2007 – Another Record Broken

July 2007 – Another Record Broken.
On August 2nd TREB reported sales 26% ahead of last year’s July record – setting a new all time record for this month. While sales have gone up, prices eased down two percent from June’s average of $373,719. However this decline is thought to be a seasonal. "Prices tend to ease in July/August as potential homebuyers and sellers go on holiday," said the President. He went on to note that the year-to-date average, at $373,326, was up five per cent over the same time-frame in 2006. This goes along with what I had experienced on home searching for clients. July was a slow month for new listings.

- data source: TREB