Home sales in the Greater Toronto Area (GTA) rose 9.4% in June from a year earlier as the busy summer sales season got underway.
Canada’s largest housing market saw 6,770 homes in the GTA sell during June. That was up 1.4% from the previous month of May.
The Toronto Regional Real Estate Board said that the average selling price in the region declined 3.9% year-over-year to $1.05 million in June.
Seasonal activity and lower prices helped to boost sales across Greater Toronto in June, said the real estate board.
The increased activity is welcome news after a slow start to the year and a sluggish housing market since the COVID-19 pandemic ended in 2023.
The Toronto Regional Real Estate Board said that it expects both accelerating transactions and more competition in this year’s second half.
However, supply remains tight in Toronto, with 17,282 new listings on the market in June, down 12.9% from last year.
The inventory of available houses for sale decreased 13.5% in June as there were 27,329 total active listings in the GTA during the month.
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