The hot Toronto Real Estate Market continues
Toronto Real Estate Board reported 11,992 sales through TREB’s MLS® System in June 2015. This result represented a
new record for the month of June and an 18.4 per cent increase over the June 2014 result of 10,132.
Selling prices were up markedly on a year-over-year basis in June, for all major home types. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent in comparison to June 2014. The average selling price was up by 12.3 per cent over the same period to $639,184.
High-end homes have accounted for a greater share of overall transactions this year compared to last year. This is the key reason why the average selling price has increased at a greater annual rate than the MLS® HPI Composite Benchmark.
There continues to be a great demand than supply for well-priced homes in all price categories. Sales usually drop in August with more people on summer vacation and so if you want to sell this summer, contact me for some great prospecting tips.