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June Mid-Month Resale Figures Released

The Toronto Real Estate Board reported 6,041 sales for the first 14 days of June 2016. This result represented a 7.9% increase compared to 5,598 sales reported for June 2015.

Year-over-year sales growth in the TREB market area was driven by transactions in the regions surrounding the City of Toronto. Sales in the ‘905’ and ‘705’ area codes were up strongly for all major market segments. In contrast, low-rise home sales were down in the City of Toronto compared to the same period in 2015. The annual low-rise sales decline in the ‘416’ area code was not due to a lack of demand, but rather a lack of listings to satisfy the housing needs of would-be home buyers.

The average selling price for the first two weeks of June 2016 was $758,507, which represented a year-over-year increase of 16.7% compared to an average price of $649,741 reported for the same time period in 2015. Double-digit annual rates of average price growth were experienced for all low-rise home types.

Seller’s market conditions certainly remained in place in June, with an annual increase in sales up against an annual decline in new listings. As a result, strong competition between home buyers continued to influence robust rates of price growth.

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If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at casey@remaxhallmark.com

 

Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

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RE/MAX Hallmark Realty Ltd., Brokerage
723 Mount Pleasant Road
Toronto, ON
M4S 2N4

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The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 8/21/2017 6:30:22 AM