4 July 2014

With the current high market demand, we believe sales will keep rising during this summer,” – said TREB’s new President Paul Etherington.

The average sale price in June was $568,953, which is 7.4% higher than during the same period in 2013.   The largest price growth in GTA was reported for semi-detached houses. Their cost was up by average 9.7%. In case of condominiums the increase was also strong – 6.8%.

“Today the inventory for GTA is less than two months, so it’s quite predictable that we’ve seen home prices growing so fast in June, especially for singles, semis and townhouses. And this trend will continue for the rest of 2014. It’s interesting that in spite of higher inventory levels, the condominium market still saw healthy demand, causing above-inflation price increase,” – noted Jason Mercer, TREB’s Senior Manager of Market Analysis.

Here are the results of TREB’s report highlighting Toronto MLS sales and average prices depending on the housing type for June 2014.

Sales

Average Price

416

905

Total

416

905

Total

Detached

1,312

3,736

5,048

921,127

641,972

714,526

Yr./Yr. % Change

19.3%

13.1%

14.6%

6.0%

7.6%

7.5%

Semi-Detached

450

688

1,138

672,725

448,531

537,184

Yr./Yr. % Change

22.0%

12.6%

16.1%

8.8%

8.8%

9.7%

Townhouse

423

1,183

1,606

485,273

402,261

424,125

Yr./Yr. % Change

14.6%

14.4%

14.5%

10.9%

7.0%

8.1%

Condo Apartment

1,578

636

2,214

390,569

309,719

367,343

Yr./Yr. % Change

21.4%

16.7%

20.0%

6.3%

7.5%

6.8%

 

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