Most people know that when you're buying real estate that location is going to be one of the things that contributes most to price. In the GTA that might mean the view or waterfront access, the proximity to the downtown core of Toronto, and how easy it is to get to using various forms of transportation. Those living in Vaughan real estate listings might work downtown and be looking to save a little by commuting on a daily basis. And then there are others who sacrifice on space in favour of a condo right on Yonge Street.

There were nearly eight thousand properties that were bought and sold in the Greater Toronto Area during the month of July in 2011. The average selling price of all of these residences was just under $460,000. This is up from the previous year where those looking for condos for sale in Toronto to single-family homes in Markham would have seen an average price closer to $420,000 during the summer months.

Out of the eight thousand homes that sold, the smallest group was those that went for less than $100,000 with only twenty-three sales and those for between 1.75 and two million with fifteen. The largest group, with about 2100 sales, was for homes between $300,000 and $400,000. You will find many houses for sale in Thornhill to condos with several amenities in this price range in a variety of styles. But the majority of them were for detached homes.

Homes change in price significantly between those within the 416 area code region and those who's phone numbers would be 905. The average price for a detached home in Toronto is around $690,000 while you will see prices closer to $530,000 outside of the city limits. If you're looking for downtown Toronto condominiums than the average price is about $350,000 while it is only $275,000 for the rest of the GTA. Townhomes are about ten percent cheaper outside of Toronto and semi-detached homes go from $500,000 downtown and $370,000 outside.

When you're looking at a Mississauga home for sale or a property in Oshawa versus one downtown you will definitely be getting more square footage for your money and maybe more space outside. You should also keep this in mind when considering the difference between the prices. There are about thirty different communities that you can choose from within the Greater Toronto Area and each of them comes with their own price tags on homes. The majority of sales are still within the City of Toronto but thousands of people are also choosing to buy in Peel, York, and Durham Regions to save money on their home purchases.