GTA house sales, listing ups from year to year in June: Real Estate Board
Greater Toronto region-house sales decreased by 2.4 percent in June as compared to a year ago in June as 6,243 properties changed their hands, while the new listing increased.
The Toronto Regional Real Estate Board (TRRREB) said that the sales were 8.1 percent from May from May from May, as the housing market “continued to show signs of recovery.”
The board said 19,839 new properties were listed in GTA last month, which was 7.7 percent compared to last year.
“With a news release available in a news release, Trreb President Elechia Barry-Spul said,” Buyers are taking advantage of increased choice and are interacting on exemption to ask prices. ” “Combined with the cost of less borrowing compared to a year ago, home ownership is becoming more obtainable for many homes in 2025.”
The average selling price fell by 5.4 percent to $ 1,101,691 compared to a year ago, and the overall benchmark price, to represent the typical house, was 5.5 percent below the year-to-year.
The June home cell report from the real estate boards of Vancouver, Calgary and Greater Toronto region shows that sales and prices in all three markets are low from year to year.
The active listing hit 31,603 last month, up to 30.8 percent from the list of 24,169 houses of June 2024. Like other regions, GTA experienced the first half of the year for real estate activity as many buyers were extracted from the economic uncertainty associated with the Canadian trade war with the US.
In May, the sale of the house was reduced by about 13 percent year-on-year after the 23 percent annual decline in April.
“Kirpan Tejashwi will go a long way to cross the border with a firm trade deal with the United States
While reducing a weak economy and improving consumer confidence, “TRREB Chief Information Officer Jason Mercer said.
“At its top, two additional interest rate cuts will make monthly mortgage payment average more comfortable for the average GTA homes. It can strengthen the speed experienced in the last few months and provide some help to sell prices.”
Bank of Canada has kept its major policy rate stable for two direct decisions at 2.75 percent after seven consecutive cuts.
In the city of Toronto, there was 2,319 sales last month, increased by 3.5 percent from June 2024. During the rest of GTA, house sales fell 5.6 percent to 3,924.
All property types saw a lower overall sales in the entire region in June than a year ago. The biggest decline was in the Townhouse segment, where four percent less properties were sold, followed by separate houses with a decrease of 2.9 percent.
2.5 percent less condos were sold and semi-separate houses fell by 0.7 percent.
