Mid-June Resale Figures Released
The Toronto Real Estate Board reported 2,999 transactions for the first 14 days of June 2017. This result was down by 50% in comparison to the same time period in June 2016. The decline in sales was greatest for detached houses followed by other low-rise home types.
The number of new listings through the first two weeks of June was up on a year-over-year basis to 9,988 – a 22% increase compared to the same time period in 2016. It is worth noting, however, that the annual growth rate for new listings did moderate compared to May. Growth in new listings was much stronger in the regions surrounding the City of Toronto, where low-rise home types are most common. In the City of Toronto, where the concentration of condominium apartments is higher, new listings growth was much more subdued. The condominium apartment market remains relatively tight.
The average selling price continued to increase compared to 2016 – up by 6.7% to $808,847 for all home types combined. GTA-wide, the strongest average annual rate of growth was for the condominium apartment segment – up by 25.5% compared to the first 14 days of 2016. The average selling price for detached houses was up by 7.7% year-over-year.
If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at email@example.com
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