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Toronto Realtors Record Second Best July Amid Tightening Market

Aug. 7 (Bloomberg) -- Toronto realtors recorded their second best July on record, as sales rose 9.9 percent during the month, the city’s real estate board said.

The number of homes sold in Canada’s biggest city rose to 9,198 in July, up from 8,367 a year earlier, the Toronto Real Estate Board said in an e-mailed statement. The average sales price increased to C$550,700 from C$512,286.

“Sales were up strongly for most major home types and market conditions actually tightened, with sales growth outpacing listings growth,” Paul Etherington, the board’s president, said in the statement. “The result was average price growth well-above the rate of inflation.”

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: Chris Fournier at cfournier3@bloomberg.net

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