June Market Results

By: Marilyn Palmer

June Market Results

Tags: Toronto, Burlington, Oakville, Milton, condominiums, buyers, sellers, average selling price, real estate

June 2021 Market Results for the Halton area saw a decrease in sales activity, with the exception  of Milton and the condo townhome market in Oakville.  Toronto reported sales were up compared to last year, but were lower than the number of transactions reported in May of this year.  Tight Market conditions remain as the number of sales outpaced the growth in new listings (with the exception of Milton).  Here are your June Market results broken down:

OAKVILLE/MILTON MARKET RESULTS

Sales for the single family segment for Oakville were down by 11.4% when compared to 2020 results - listings down 25.1%.  In Milton however, the increase was substantial - up 23.2% and lsitngs up 44.4%.  For the Condo/Townhouse segment and for the Average Selling Price for both areas (up substanially), please click here.

BURLINGTON MARKET RESULTS

"Year-over-year gains are expected to become more modest and may even be in the negative in the months ahead as we reach a crossover period where sales in 2020 roared back to life and sales this year are cooling off after a blistering pace," said Donna Bacher, President of RAHB (Realtors® Association of Hamilton-Burlington". 

Such is the case currently with Burlington in June of 2021. Sales Activity saw a decrease of 4% while new listings saw a decrease of 9% when compared to 2020 results.  The average selling price - up by 29% to $1,126,765.00.  For your full report on the Burlington market, please click here.

G.T.A. & MISSISSAUGA MARKET RESULTS

Toronto Regiona Real Estate Board reported that June home sales were up compared to last year (28.5%) , but remained  below the March 2021 peak and were lower than the number of transactions reported for May 2021, consisten with the regular seasonal trend.  The average selling price ($1,089,536) increased by double digits compared to last year as well, but the annual rate of increase moderated compared to the previous 3 months.

"We have seen market acitivty transition from a record pace to a robust pace over thre least thre months.  While this could provide some relief fo rhome buyers in the near term, a resumption of population growth based on immigration is only months away.  While the primary focus of policymakers has been artificially curbing demand, the only long-term solution to affordability is increasing suppl to accommodate perpetual housing needs in a growing region." said TRREB President Kevin Crogger.

For the full Peel Regional June Report please click here.