Canada’s real estate market saw notable activity in July, with existing home sales rising 3.8% month-over-month, according to data from the Canadian Real Estate Association (CREA). While the MLS benchmark home price remained unchanged compared to June, it was down 3.5% from its July 2024 level.
The national average home price recorded a slight monthly increase of 1.3%, reaching CAD 687,016, marking a modest 0.6% annual gain. Toronto led the market with strong sales growth of 13% from June and 13.2% year-over-year, while the average price rose 0.3% to CAD 1,069,511, though still 5% lower than last year.
Vancouver also showed solid monthly performance with sales up 8.6%, although they fell 1.7% from July 2024. The average home price in the city held steady at CAD 1,251,729, down 3.6% year-over-year.
These figures reflect continued momentum in some major markets despite annual price pressures, highlighting resilient demand under current economic conditions.
