Greater Toronto Area Report June 2019
Steve Moran, Remax
Toronto home sales jumped again in June, nudging prices higher and narrowing affordable options for buyers.
Sales increased 10.4 per cent in June compared to the same month a year earlier. However, because we saw virtually no change in the number of new listings, market conditions tightened and price growth picked up, especially for more higher density home types like condominiums, which, on average, are less expensive than traditional detached houses and therefore provide more affordable housing options.
The average selling price in the Greater Toronto Area in June was $832,703 - up 3 per cent compared to June 2018. Price growth continues to be driven by higher density market segments, including semi-detached houses, townhouses and condominiums.
Looking forward, as the Greater Toronto Area continues to grow, in terms of population, employment and overall diversity I anticipate that price growth in the housing sector will continue.
I would be happy to help you with your real estate needs. I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com.
Have a great day!