Updated: June 14, 2018
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The average sold price in the Greater Toronto Area for June 2018 was $807,781, up 2.0% from June 2017, and up very slightly from May 2018’s average sold price. June saw 15,922 new listings, down 18.6% from June 2017, but there were 20,844 active listings. This is 5.9% higher, year over year. There were 8,082 sales in the GTA, up 2.4% from June 2017, and the average number of days on market was up from 15 in June 2017 to 21 in June 2018.
The average price was higher in the City of Toronto than in the GTA, at $870,559, with an average of 17 days on market.
“Market conditions are becoming tighter in the Greater Toronto Area and this will provide support for home prices as we move through the second half of 2018 and into 2019. There are emerging indicators pointing toward increased competition between buyers, which generally leads to stronger price growth. In the City of Toronto, for example, average selling prices were at or above average listing prices for all major home types in May,” said Jason Mercer, TREB’s Director of Market Analysis.
The Glenfield-Jane Heights neighbourhood (encompassing Jane to Keele, Sheppard to Finch) saw seven freehold and five condo sales in June 2018, compared to eight freehold and four condo sales in June 2017. Four semi-detached houses were sold in June 2018, with an average sale price of $758,500. This is up $28,167 from last month, or about 3.7%. One detached house was sold in the neighbourhood last month, for $910,000.
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