The number home sales were +37% vs. June 2020, though they remained below the peak realized this past March, and lower vs. May 2021 – indicating signs of a return to regular seasonal market trends. Market conditions remained tight with sales growth outpacing the growth in new listings. As a result, Toronto realized an increase in the average selling price in June to $1,079,749 [+6% vs. June 2020].
Selling prices for all major home types remained strong with average selling prices for detached houses [+12%], semi-detached houses [-2%], townhouses [+10%], and condos [+7%] vs. June 2020.
To quote new TRREB President Kevin Crigger “We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away.”
Looking to buy or sell a home in Toronto? Average prices in June were as follows:
➕ Condo $717,466