Canada’s housing market continued to gain ground this July, marking the fourth consecutive month of rising sales. While we’re not yet seeing the record-setting activity of past years, the consistent climb since spring signals a market that is regaining balance and confidence.

Sales Strengthening Across the Country

According to the Canadian Real Estate Association (CREA), home sales rose another 3.8% month-over-month in July. Since March, transactions nationwide are up 11.2%, with the Greater Toronto Area leading the charge. GTA sales have jumped an impressive 35.5% over that time, highlighting how demand is building back even if activity is still below peak levels.

This trend points to a key shift: buyers are slowly but surely returning, and momentum is carrying forward into late summer, an unusual but encouraging change compared to the traditional seasonal slowdown.

Price Trends: Holding Steady

Nationally, prices remain stable. The average sale price in July was up slightly, 0.6% compared to last year, while the MLS® Home Price Index held steady month-over-month. On an annual basis, prices were down 3.4%, but declines have softened compared to earlier this year. In other words, pricing is finding its footing.

Supply, Demand, and Balance

New listings in July were virtually unchanged from June, but stronger sales have tilted the sales-to-new-listings ratio to 52%. That’s a clear indicator of a market in balance, comfortably within the 45–65% range that suggests neither buyers nor sellers have the upper hand.

At the end of July, just over 202,500 properties were available nationwide, 10% higher than a year ago. Inventory levels remain below the long-term norm, sitting at 4.4 months of supply, which could create tighter conditions if buyer demand continues to rise into the fall.

What This Means Locally

Here in Durham Region, Northumberland County, and the East GTA, these national trends are already being felt. Buyers who had been waiting on the sidelines during the post-inflation pause are starting to re-enter, while sellers are benefitting from a more balanced landscape. With September historically bringing a surge of new listings, this fall market is shaping up to be one of the most important in recent years.

The Takeaway

The market is stabilizing, confidence is growing, and opportunities are on the horizon for both buyers and sellers. Timing your move with the right strategy will be key.

If you’re considering buying or selling in Durham Region, Northumberland, or the East GTA, now is the time to plan ahead. Team Prata Real Estate, led by Mark and Lorraine Prata, are your community-first, AI-powered new age marketing experts—here to help you make smart, confident moves in a shifting market.

Ready to talk strategy?
Reach out today at teamprata.com and let’s start the conversation.