Aug 6 (Reuters) - Toronto area housing sales volumes soared to a monthly record in July as buyers came out in full force following a spring lull amid restrictions due to the COVID-19 pandemic, the Toronto Regional Real Estate Board (TRREB) said on Thursday. Total home sales across the greater Toronto area rose 29.5% in July from the previous year and were up 49.5% compared to June. New listings rose 24.7% year-over-year, while active listings declined by 16.3%. "Normally we would see sales dip in July relative to June as more households take vacation," said TRREB President Lisa Patel in a statement. "This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer." The average selling price was up 16.9% on booming sales of pricey detached homes, particularly in Toronto's core. The condo market was more balanced, but prices still rose year-over-year. The following are details on Toronto home sales and prices in July: JULY 2020 JUNE 2020 JULY 2019 YR/YR PCT CHANGE TOTAL SALES 11,081 8,701 8,555 29.5% AVERAGE PRICE C$943,710 C$930,869 C$806,971 16.9% NEW LISTINGS 17,956 16,153 14,403 24.7% After preliminary seasonal adjustment JULY 2020 MTH/MTH PCT CHANGE SALES 9,754 49.5% AVERAGE PRICE C$958,713 5.5% Sales by type of property JULY 2020 YR/YR PCT CHANGE DETACHED 5,633 43.7% SEMI-DETACHED 1,068 25.4% TOWNHOUSE 1,852 31.3% CONDO APARTMENT 2,423 6.7% (Reporting by Julie Gordon in Ottawa; Editing by Rosalba O'Brien)
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