📊 Toronto Real Estate Market Report - June 2024 🏠

Key Highlights

• Overall Market Activity:

• 📉 Sales: 7,466 homes sold in June 2024, a decrease of 10.5% compared to June 2023.

• 📈 New Listings: 15,679 new listings, up by 3.1% year-over-year.

• 📉 Active Listings: Total active listings were 16,592, a 7.6% increase from June 2023.

• Average Selling Price:

• 📊 Overall: $1,164,284, a slight decrease of 1.1% from June 2023.

• 🏡 Detached Homes: $1,405,813, down by 2.3%.

• 🏘️ Semi-Detached Homes: $1,080,762, a 0.5% increase.

• 🏢 Townhouses: $972,360, up by 1.9%.

• 🏙️ Condos: $745,231, a minor decrease of 0.4%.

• Regional Insights:

• City of Toronto:

• 📉 Sales: 2,584 homes sold, a 13.7% decline.

• 📉 Average Price: $1,177,905, down by 0.8%.

• Rest of GTA:

• 📉 Sales: 4,882 homes sold, a 8.9% decrease.

• 📉 Average Price: $1,156,194, a 1.3% drop.

• Home Types Breakdown:

• Detached Homes:

• 📉 Sales: Decreased by 12.4%.

• 📉 Average Price: Down by 2.3%.

• Semi-Detached Homes:

• 📉 Sales: Declined by 9.8%.

• 📈 Average Price: Up by 0.5%.

• Townhouses:

• 📉 Sales: Reduced by 10.2%.

• 📈 Average Price: Increased by 1.9%.

• Condominiums:

• 📉 Sales: Dropped by 10.9%.

• 📉 Average Price: Slight decrease of 0.4%.

• Days on Market:

• ⏳ Average Days on Market: 19 days, up from 17 days in June 2023.

• Months of Inventory:

• 📦 Months of Inventory: 2.2 months, indicating a balanced market, compared to 2.0 months last year.

Source:

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