The downtown Toronto Condo market continued to see gains with the average sales price increasing 7.2 percent to $490,093. Inventory increased when compared to the same period last year, up about 140 listings. East Toronto continues to increase. Prices were up 13.4 percent, while listings remained virtually the same when compared with July 2013. Midtown average prices are still above the million mark, up 7.6 percent year-over-year. Supply was up though, bringing the market into a better balance for sellers and buyers – much the same as in last month’s update. West Toronto saw an ever-so-slight decrease in average prices of 1.7 percent. However, sales volumes were up since July 2013. The number of new listing increased by just under 300 year-over-year. The Beaches are still one of the hottest markets in the city. Sales were up 11.4 percent at an average price of $759,956. Supply remained even compared to July 2013.
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