Market Recap June 2013

July 23, 2013 - Updated: July 23, 2013

According to the Toronto Real Estate Board (TREB), there were 9,061 sales through the Multiple Listing Service (MLS) in June. Down by less than 1.0 per cent compared to June 2012. June saw an average selling price of $531,374 - which is up by 4.7 per cent from the average selling price of $508,622 reported in June 2012.

"The sales picture in the GTA improved markedly in the second quarter of 2013. While the number of transactions was still down compared to 2012, rates of decline were substantially improved compared to the first quarter," said Toronto Real Estate Board President Dianne Usher.

"As a growing number of homebuyers, many of whom put their purchase on hold due to stricter lending guidelines, now reactivate their search, the expectation is for renewed growth in home sales in the second half of 2013," added Ms. Usher

The median price in June 2013 was $445,000.
The median price in June 2012 was $430,000.

"The short supply of low-rise home types in many parts of the GTA relative to the number of households looking to buy continued to prompt strong upward pressure on selling prices of singles and semis," said Jason Mercer, TREB's Senior Manager of Market Analysis. "We have also seen enough buyers in the better-supplied condo apartment market to provide support for selling prices at current levels.”

*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).


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