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16000 New Listings For Sale In July. Down 27% From June

August 08, 2017

July 2017 - The New Street Resale Real Estate Report for The Greater Toronto and Hamilton Region

The July 2017 Resale Real Estate numbers are in for both the Toronto & Hamilton Regions. If you've heard anything about it,  you probably already know that prices and sales took another little dip.

GTA & Hamilton Home Prices - Last 12 Months

For the 3rd consecutive month, we've seen prices itch down and now we're pretty much back to where we started at the beginning of 2017. But there's more this unfolding story....

If you look at the chart below, you will notice that sales were down 26% from June in the GTA and 21% in the Hamilton-Burlington area. Prices also dipped 6% and 3.3% respectively. One number that I've been following closely from this chart is the number of new listings as well as the ratio between new listings and sales. This provides us with some indication of the supply and demand in the resale market. We are still seeing significantly more new listings hitting the market in comparison to sales, but the number of new listings is actually down over 27% from last month and only 5% more then July of last year, in the GTA. In Hamilton that number is almost the same in comparison to last month. If the amount of new listings continue to decrease at this rate then we should eventually see sales catch up with supply and hit that plateau that was mentioned in last month's blog post.

GTA & Hamilton Homes Sales Stats – July 2017

When we look at the stats for each particular home type, you'll notice that houses are still taking a harder price-hit then condos. While detached home prices in the GTA are only 5% more then 12 months ago, condos are still a very healthy 23.2% up. In the Hamilton-Burlington area, this trend is also evident with freehold home prices up about 9% while condos were up 21% in July. Interestingly, townhome prices in the 416 were the only home type that was actually up from last month, a whopping 0.4%.

GTA Sales & Average Price by Home Type - July 2017

SALES & AVERAGE PRICE BY HOME TYPE - JULY 2017

Hamilton & Burlington Sales & Average Price by Home Type - July 2017

HAMILTON BURLINGTON SALES & AVERAGE PRICE BY HOME TYPE - JULY 2017

Take a look at average sales and price stats for communities throughout Hamilton and the GTA below. Grimsby, Dunnville, Hamilton Mountain and Waterdown all seem to be on their own in the green for July. Meanwhile in the GTA, the Halton Hills area including Georgetown saw a small price jump of 5% from just last month. Markham was also up from last month after we saw prices slide in May and June.

Hamilton & Burlington Prices & Sales by Community - July 2017

Hamilton Burlington July 2017 Real Estate Stats by Community Ancaster Waterdown Dunnville Brantford West Mountain Downtown Hamilton Beach  

GTA Prices & Sales by Community - July 2017

July 2017 New Street GTA Map Stats  

Opinions are my own and should not be taken as advice. Data Compiled by New Street from TREB (Toronto Real Estate Board) and RAHB (Realtors Association of Hamilton-Burlington). In association with Right at Home Realty Inc., Brokerage, 5111 New Street, Burlington, ON L7L 1V2. The information here is deemed reliable but not guaranteed by New Street, TREB or RAHB. Not intended to solicit listed properties or buyers under agency agreements.

Robert Jendrzejczak (SA)

As the Founder of New Street, Robert is passionate about optimizing the customer experience. He is a stickler for real-world business results. Rob has developed deep insights into the market and an insider perspective of what homebuyers are looking for these days. When heโ€™s not helping New Street clients, heโ€™s probably catching a run while purposefully ignoring the stop signs. Follow robertj.ca on Instagram.

All Stories By : Robert Jendrzejczak (SA)

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  The New Street February 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt // Report   ๐Ÿ“Š The average price of a home in the Toronto Region was $780,397 in February 2019๐Ÿ“Š The average price of a home in the Hamilton Region was $517,439 in February 2019๐Ÿ“Š 

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