According to the Toronto Real Estate Board (TREB), there were 10,230 sales through the Multiple Listing Service (MLS) in June. This is a 21 per cent increase from June 2010.
June saw an average selling price of $476,371 - a nine and a half per cent increase from the average selling price of $467,169 reported in June 2010.
Home buyers are remaining confident in their ability to purchase and pay for a home over the long term, which helped the pace of sales increase in the months of May and June.
The median price in June 2011 was $405,000
The median price in June 2010 was $367,750.
"Home owners will likely react to the stronger price growth by listing their homes in greater numbers. A better supplied market would result in more moderate price increases" said Toronto Real Estate Board (TREB) Senior Manager of Market Analysis Jason Mercer.
*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).