The number of homes sold in the Greater Toronto Area (GTA) during June rose 16.5% from a year earlier, according to the Toronto Regional Real Estate Board (TRREB).
However, while homes sales rose year-over-year, they declined 17% from 9,012 units sold in May of this year.
Most of the properties sold in June across the GTA were detached homes (3,377), followed by condo apartments (2,122), townhouses (1,233) and semi-detached houses (678).
The number of new properties listed across Toronto in June declined 3% from a year earlier, according to TRREB.
As a result, market conditions were tighter in June compared to the same period of 2022.
The average price of residential real estate in Toronto during June was $1.18 million, up 3.2% from June 2022.
Vancouver Sales Gain Ground
Across the country in Vancouver, home sales rose 21% in June from a year ago as a total of 2,988 properties changed hands during the month.
However, June’s home sales fell short of the 10-year seasonal average by 8.6%, highlighting the market’s continued slump compared to its historical performance.
The Real Estate Board of Greater Vancouver said that apartment sales in Vancouver showed the most strength in June with sales up 18.6% from last year.
New listings in June rose a slight 1% to 5,348 units, which was 3.1% below the 10-year seasonal average of 5,518.
The average price for a residential property in Vancouver was $1.20 million in June, up 1.3% from May of this year.
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