Greater Toronto Area house and condo sales in July
Friday, 19 August 2016, 09:05:00 AM
In the video published on July 6th, 2016, Toronto Real Estate Board Senior Manager, Jason Mercer, discusses the real estate sales in the Greater Toronto Area in June. At the end of June the spring market came officially to a close. Looking at the sales in the first half of the year it isn't surprising that it was the best June on record in the Toronto MLS system. 7.5% more properties were reported sold in the Greater Toronto Area, comparing to June 2015. In the City of Toronto the increase in the number of sales was 4.6%. New listings were down by 3.5%, and listing inventory decreased by 31.4%.
Strong demand houses and condos continues, and, with a very limited supply, the competition between prospective buyers is fierce. Average price of all property types increased, in comparison with June 2015, by 16.8%. The highest price increase was reported for detached homes in the 905 area. In the City of Toronto detached house prices increased by 19.6%.
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