The Toronto residential Real Estate Market had its best June ever, with 6,304 homes changing hands during the course of the month, TREB president-elect Marilyn Baubie noted today.

“That’s up 16% from the 5,410 seen in June of last year, which was our previous record, and also up marginally from the 6,296 recorded in May.” Prices, Ms. Baubie said, remained stable in June, down only marginally to $230,692 from the $231,908 recorded in May, and up 2 per cent from the $225,323 recorded in June of 1998. However, the president-elect noted that inventory declined in June, with active listings falling 5 per cent to 20,206 from the 21,209 recorded in May, and down 8 per cent from the 21,988 seen in June of last year. “That statistic is the only fly in the ointment,” Ms. Baubie said. “Our Members are telling us that product is extremely limited, especially in the under $200,000 range.”

Breaking down the total 2,303 sales were reported in TREB’s 28 West districts and averaged $214,703; 978 sales were reported in the 14 Central districts and averaged $330,995; 1,234 sales were reported in the 23 North districts and averaged $251,096; and 1,789 sales were reported in TREB’s 21 East districts and averaged $182,368.

Click Residential Market Update – June 1999