In June, TREB Members reported 9,153 sales of single-family homes throughout the Greater Toronto Area, TREB President John Meehan announced today.

“This figure makes last month the second best June ever recorded, down only one per cent from the record 9,275 sales recorded in June of 2004,” the President noted. “It is also only the sixth time in Board history that total monthly sales have exceeded 9,000.” Prices fell marginally in June, down a little less than one per cent to $345,065 from May’s $346,474. “While the sales pace remains very strong,” Mr. Meehan said, “price increases have been relatively moderate. In fact, the June figure represents only a nine per cent increase over the $316,510 recorded in June of 2004, which is line with the single-digit annual increases we have seen over the course of the last several years.” Inventory at the end of June was 23,876, up seven per cent over June 2004. On average, houses sold during June were on market for 40 days.

Breaking down the total, 3,494 sales were reported in TREB’s 28 West districts and averaged $322,687; 1,673 sales were reported in the 14 Central districts and averaged $458,775; 1,812 sales were reported in the 23 North districts and averaged $368,340; and 2,174 sales were reported in TREB’s 21 East districts and averaged $274,128.

Click to view Residential Market Update – June 2005