Toronto Real Estate Market Update – June 2019 [Video + Infographics]
I hope everyone is having a chance to enjoy some of the warm Summer weather we are having. As we navigated our way through Spring’s Residential Real Estate market, generally the busiest time of year for the buying and selling of homes, June’s numbers came very positively.
Prices continue to rise
Inventory numbers were down just over 5% over June last year with the volume of trades up over 9% demonstrating a rebound from the trough in the market we experienced in the late Spring and early Summer of 2017. Prices continue to rise steadily, up over last June by 3%. This is a result of the steady inventory numbers of just over two months.
Demand for affordable housing remains strong
The condo market continues to show resilience, however the number of sales were down slightly over last June by 3.8%. Prices continue to rise, up 5.2%, showing that demand for more affordable housing, like condominiums, still remains strong.
Buyers have a little more choice
If you are considering buying or selling, now is a great time as inventory levels are at a point which is allowing buyers a little more choice with prices appreciating at a pace which is healthy and sustainable.
Thanks for listening and I hope you enjoyed this quick update. Please never hesitate to reach out to me with any of your real estate questions.
Be well and I look forward to catching up soon.