In July, GTA home sales fell 11.4% from June and 0.9% from last year. Average price dropped 5.2% monthly and 4.5% annually. New and active listings fell 17.8% and 12.1% YoY, tightening conditions.
Condo prices held up best, rising 0.9% from June and falling just 2.3% YoY. Townhouses declined 3.9% annually, while detached homes fell 5.1% and semi-detached homes 7.4%. With affordability stretched, the condo segment's lower entry price may be helping.
Late summer often brings fewer sales, while fall can bring a brief pickup in listings and activity. With rates expected to hold, affordability and job security will guide demand. Homes priced for today's market may sell, but broad price growth looks unlikely soon.