Toronto Real Estate Has Best June Ever
Last month the Toronto Real Esatet Market recorded 10,451 sales for the best June performance ever, Toronto Real Estate Board President Donald Bentley announced on Kuly 7th. “June’s figure was up almost 20% over the 8,730 sales recorded during the same month in 2006, and down only slightly (6%) from May’s best-ever figure of 11,146 sales. To get some idea of the current strength of the market: there have been more sales in the last two months (21,597) than occurred in all of 1977 (20,512), thirty years ago this year.”
While the sales pace remained brisk, average prices declined marginally (less than 1%) from May to $381,963. The year-to-date average was $373,719, up 5% over the first six months of 2006 ($356,977).
“Price increases remain only modest,” noted the Toronto Real Estate Board President. “Inventory, at 21,789, is robust enough to keep a lid on upward inflation. The current market is still accessible to first-time buyers, and should continue in this mode for the foreseeable future.”
Breaking down the total, 3,936 sales were reported in the Toronto Real Estate Board’s 28 West districts and averaged $356,513; 1,819 sales were reported in the 14 Central districts and averaged $513,491; 2,248 sales were reported in the 23 North districts and averaged $406,565; and 2,448 sales were reported in the Toronto Real Estate Board’s 21 East districts and averaged $302,558.
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