With 8,033 sales reported through the TREB MLS system, last month was by far the best June ever recorded in the history of the Toronto Real Estate Board President Cynthia Lai said today. “Sales are up almost 12 per cent over the 7,176 recorded in June of 2001, which was our previous best-ever figure for the month. They are also up a whopping 22 per cent over the 6,627 sales recorded in June 2002, and even up marginally over May’s 8,025 figure.”

“June’s performance is quite astounding given the challenges Toronto has faced during the first part of 2003,” Ms. Lai said. “However, it is likely that some of the activity we are seeing now is a result of buying decisions that were deferred from the first half. This should make the summer market unusually robust.”

There is also good news with respect to afforability as prices fell marginally, with the June figure coming in at $295,053, down one per cent from the $298,451 recorded in May. The median price also fell marginally to $255,000 from $256,100.

Breaking down the total, 3,145 sales were reported in TREB’s 28 West districts and averaged $272,031; 1,232 sales were reported in the 14 Central districts and averaged $400,991; 1,599 sales were reported in the 23 North districts and averaged $325,361; and 2,057 sales were reported in TREB’s 21 East districts and averaged $243,244.

Click to view Residential Market Update – June 2003