GTA Resale Housing Market Posts Best June on Record
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Toronto, July 6, 2009 - In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in june was 100,700.
"The record result in June is testament to the fundamentally sound housing market in the GTA," said the Toronto Real Estate Board's newly appointed President Tom Lebour. "An increasing number of households have been confident in purchasing a home in the region's affordage and divers resale housing market."
The average price for June transactions was $403,972 - up by two per cent compared to the same month last year.
"The re-emergence of seller's market conditions has exerted upward pressur on home prices," explaned Jason Mercer, TREB's Senior Manager of Market Analysis. "Look for sales to remain high relative to listings in the second half of the year. This will keep home prices growing.
SUMMARY OF JUNE SALES AND AVERAGE PRICE - 2009/2008
Toronto ("416"): 2009 Sales: 4,362.....2009 Avg. Price: $441,703..........2008 Sales: 3481.....2008 Avg. Price: $433,082
Rest of GTA ("905"): 2009 Sales: 6,953.....2009 Avg. Price: $379,008..........2008 Sales: 5,119.....2008 Avg. Price: $370,559
GTA: 2009 Sales: 10,955.....2009 Avg. Price: $403,972..........2008 Sales: 8,600.....2008Avg Price: $395,866