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More Moderate Price Growth in June

The Toronto Real Estate Board reported 7,974 sales through in June 2017 – down by 37.3% in comparison to June 2016.

There were 19,614 new residential listings, up 15.9% compared to June 2016. While this annual rate of growth was sizeable, it represented a more moderate annual rate of growth compared to May 2017, when new listings were up by 48.9% year-over-year.

Annual growth rates for MLS® HPI benchmark prices have moderated over the past two months, but remain strong. The MLS® HPI composite benchmark price was up by 25.3% on a year-over-year basis in June. June’s average selling price for all home types combined for the TREB market area was $793,915, representing a 6.3% increase compared to the same month in 2016. A better supplied market has certainly been a key factor influencing the moderation in price growth.

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If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at casey@remaxhallmark.com

 

Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

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