Greater Toronto REALTORS® reported 8,442 sales through the
Multiple Listing Service® (MLS®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales
reported in June 2009. Sales for the second quarter of 2010
amounted to 28,810 – up one per cent annually. Year-to-date
sales through June were up 23 per cent to 50,455 compared to
the first six months of 2009. “We experienced a record number
of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,”
said Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.”
The average price for June transactions was $435,034 – up
eight per cent compared to the average of $403,972 recorded
for June 2009. “With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
“The annual rate of average price growth in the second half of
2010 will be in the single digits.”
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Source: TREB
