The July Toronto Real Estate Board Market Watch

The Toronto Real Estate Board's numbers for June are in; and let me tell you they are nothing but staggering. The Greater Toronto Area continues to be in a league of its own when it comes to home prices. We've seen a jump of 12,794 transactions in the month of June. That's up from a year ago when we saw 11,905 - approximately a 7.5% increase year over year. Mixed with a 3.8% decline in new listings; prices soared in June to an average of $746,546; up 16.8% from a year ago - when the average home price was $639,309. 

Some notables to take away from the report: 

• The average sale price for a detached home in the (416) was $1,259,486
• The average sale price for a detached home in the (905) was $892,747
• The 416 had 1,491 detached homes sold in June up 1.2% year over year; the 905 sold 4,816 homes in June up 8.9% year over year. 
• Prices for detached homes across the GTA are were up 19.9%; prices for semi's were up 16.4%; prices for townhouses were up 14.9% and prices for condo apartments were up 7.7%
• In Toronto a total of $16,031,032,399 of real estate changed hands; in York Region a total of $10,939,386,292 changed hands
• The average sale price of a detached home in Toronto Central was $2,072,978; the average sale price of a detached home in York region was $1,195,305; Richmond Hill stood out at $1,518,320
• The average sale price of a condo in York Region was $389,734
• The average sale price of a condo in Toronto Central was $494,576; the average sale price of a condo in the downtown core (CO1 District) was $486,068; while the average price in the Yorkville/Annex area (CO2 District) was $949,660

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*Information provided by the Toronto Real Estate Board