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* Compared to last July, number of sales in Greater Toronto Area (GTA) increased by 8% with average selling price rose 10.6% to $609,236.
* In every home category, 905 area recorded growth in sales year-over-year.
* The active listings was 14.7% less than July 2014.
"With the level of inventory in the GTA trending below two months, many listings continued to generate a lot of interest from buyers. Not surprisingly, this supported further price increases well-above the rate of inflation. Assuming similar interest rate and economic environments over the next five months, strong price growth will remain the norm for the rest of 2015," said Jason Mercer, TREB's Director of Market Analysis.
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