Average prices climbed moderately in June, to $278,638 from May’s $278,323, President Ann Bosley announced today.

“As the summer market progresses, we are seeing typical signs of a slower pace. Purchasers willing to house hunt over the summer may find less competition and therefore, opportunities to purchase for the asking price or even less, as opposed to the bidding frenzy of the Spring market.” The pace of sales also became more moderate in June, with Single-Family dwelling sales recorded through the TREB MLS system coming in at 6,627 units. This was down a moderate eight per cent from the 7,176 figure recorded in June 2001.

Breaking down the total, 2,461 sales were reported in TREB’s 28 West districts and averaged $257,095; 1,145 sales were reported in the 14 Central districts and averaged $383,451; 1,370 sales were reported in the 23 North districts and averaged $296,238; and 1,651 sales were reported in TREB’s 21 East districts and averaged $223,458.

Click to view Residential Market Update – June 2002