There was a strong increase in residential sales reported through the TorontoMLS system in June.
They jumped by 15.4% year-over-year to 10,180 transactions.
“Home buyers in the Greater Toronto Area (GTA) are confident in their ability to purchase and affordably pay for a home. Generally speaking, buyers feel that ownership housing will be a good investment over the long term," says Toronto Real Estate Board (TREB) president Paul Etherington. "This is why we continued to see increases in home sales in June for all major home types across the GTA."
The average selling price for June transactions was $568,953, representing an increase of 7.4% compared to June 2013.
The strongest price increase for the GTA as a whole was for semi-detached houses, with the average price up by 9.7% over the last 12 months. The pace of price growth for condominiums was also strong at 6.8%.