Monthly Resale Housing Market Figures - June 2018
There were 8,082 home sales reported by Greater Toronto Area realtors through TREB's MLS System last month. This figure represents a 2.4 per cent increase in comparison to an year earlier. There were 7,893 home sales reported by Greater Toronto Area realtors in June 2017. Sales of homes increased by 17.6 per cent on a monthly basis between May 2018.
Toronto Real Estate Board's new President, Garry Bhaura stated that home ownership continues to be a positive long term investment that can be seen as buyers are beginning to move back into the real estate market and sales are increasing from last year's decline. He also mentioned that market conditions seem to be tightening with sales accounting for a greater share of listings as new listings have declined in comparison to last year.
The average selling price of all home types combined last month was $807,871. This figure represents a 2 per cent increase from June 2017. In June 2017, the average selling price of all home types combined was $791,929.
Toronto Real Estate Board's Director of Market Analysis, Jason Mercer stated that improvement in homes sales over the next year is expected. He mentioned that during the same time period, issues related to supply of listings will occur which could mean that competition among buyers could increase pushing home prices up.
Toronto Real Estate Board