{"id":23215,"date":"2023-07-31T06:00:00","date_gmt":"2023-07-31T10:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=23215"},"modified":"2023-07-28T09:32:11","modified_gmt":"2023-07-28T13:32:11","slug":"canadian-home-sales-july-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/canadian-home-sales-july-2023\/","title":{"rendered":"Soaring Canadian Home Sales: The Cities Where the Number of Sales Have More Than Tripled this Year"},"content":{"rendered":"\n<p>In spite of an interest rate increase in June, housing prices have continued to climb in Canada. The national average home price hit $760,600 in June 2023 &#8211; around $9,000 less than the July 2022 price and just $2,900 less than it was in December 2021 when rates were at their lowest.<\/p>\n\n\n\n<p><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p>More notable, however, is that the number of sales has skyrocketed since the beginning of the year. Following a slow 2022, national sales have increased by well over 100% in almost all major Canadian markets since January, despite the continually low inventory and the ever-increasing prices.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/rent-vs-mortgage-canada-july-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Renting vs. Buying: Where Monthly Mortgage Payments are Comparable to Monthly Rent Across Canada<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>Despite less than favourable conditions for buyers in some cities, the reality is that in many markets across the country, homes are flying off the market. Zoocasa analyzed home sales and prices in 23 regional markets across Canada to determine where the most homes are being sold.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"1551\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9.png\" alt=\"\" class=\"wp-image-23218\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9-116x300.png 116w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9-396x1024.png 396w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9-768x1985.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9-594x1536.png 594w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/07\/Frame-102-9-793x2048.png 793w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Home Sales Have Doubled Since January&nbsp;<\/h2>\n\n\n\n<p>National sales have more than doubled since January. There were 50,155 homes sold across the country in June, 139.62% more than were sold in January. The highest increase in sales is in <a href=\"https:\/\/www.zoocasa.com\/guelph-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Guelph<\/a>, where the number of homes sold has increased by&nbsp; 387.38% compared to&nbsp; January, with 424 homes trading hands in June. <a href=\"https:\/\/www.zoocasa.com\/north-bay-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">North Bay<\/a> has the second-highest increase in sales numbers at 366.67%, with 126 sales. It\u2019s important to note that as smaller markets with fewer sales, increases in pure sales are likely to lead to higher percentage increases when compared to larger markets. In terms of larger markets, where over 1,000 homes have been sold, <a href=\"https:\/\/www.zoocasa.com\/fraser-valley-bc-real-estate\/houses\" target=\"_blank\" rel=\"noreferrer noopener\">Fraser Valley<\/a> has had the largest increase. In June there were 1,849 home sales, an increase of 214.46% from January.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/how-much-interest-on-mortgages\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Here\u2019s How Much Interest Canadians Can Expect to Pay on a 25 Year Mortgage<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>Of all the markets analyzed, only <a href=\"https:\/\/www.zoocasa.com\/quebec-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Quebec CMA<\/a> had sales numbers less than double, increasing by 42.8% from January, with 744 homes being sold in June. <a href=\"https:\/\/www.zoocasa.com\/windsor-on-real-estate\">Windsor-Essex<\/a> had an exact 100% increase from January, as 596 homes traded hands in the region.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sales Growth is Driving Prices Upwards<\/h2>\n\n\n\n<p>Sales and price increases go hand-in-hand, particularly as inventory is still below the long-term average in many major markets. Greater competition leads to higher prices, which is why home prices have increased in every region we covered. In <a href=\"https:\/\/www.zoocasa.com\/greater-sudbury-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Sudbury<\/a>, prices increased by 19.22% to $456,000, where home sales are also up 195% since January. The smallest price increase was in <a href=\"https:\/\/www.zoocasa.com\/montreal-qc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Montreal<\/a>, up 3.45% to $516,400. Home sales still increased by over 102% in the city. Even in the market with the smallest increase in sales numbers, Quebec, home prices have still increased by 6.66% since January.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/annual-population-growth-vs-national-home-price\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Analyzing the Impact: Can House Prices Decline if Canada\u2019s Population is Growing at Record Rates?<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>If you\u2019re looking to enter one of these markets, it\u2019s important to speak with a local realtor who can give you specific information and guidance about the local real estate market. <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a> to discuss your home-buying plans.&nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Thinking about entering the summer market?<\/div>\n<div class=\"cta-body\">We&#8217;re here to help!<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In spite of an interest rate increase in June, housing prices have continued to climb in Canada. The national average home price hit $760,600 in June 2023 &#8211; around $9,000 less than the July 2022 price and just $2,900 less than it was in December 2021 when rates were at their lowest. Enjoying our content? [&hellip;]<\/p>\n","protected":false},"author":119,"featured_media":23221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1111,1160],"tags":[],"class_list":["post-23215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canada","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Soaring Canadian Home Sales: The Cities Where the Number of Sales Have More Than Tripled this Year | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Canadian homes sales have skyrocketed in the last 5 months, with three times as many homes selling as there were in January in some cities. Take a look at where the most homes are being sold across Canada.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/canadian-home-sales-july-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soaring Canadian Home Sales: The Cities Where the Number of Sales Have More Than Tripled this Year | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"Canadian homes sales have skyrocketed in the last 5 months, with three times as many homes selling as there were in January in some cities. 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