The story for the Real Estate Market in June continues as market conditions remain tight. Most areas experienced a decrease in the number of sales, but also a decrease in the number of new homes on the market (listings). Average Selling prices as the market remains tight have seen an increase. Here are your results for Toronto, Mississauga (Peel), Milton, Oakville and Burlington areas:
BURLINGTON MARKET ANALYSIS
The Burlington area saw a minimal decrease in the number of sales (6%) and new listings (4%) compared to the same time last year. The Average Selling Price increased by 9% to $786,667. The average days the home was on the market was 25. For your full report on the Burlington market please click here.
OAKVILLE & MILTON MARKET STATS
Oakville and Milton areas saw a decrease in the number of sales when compared to June of last year. The number of new homes on the market for both areas, in total, was down by 70 homes. The sales vs homes in the residential market was down by 1 in Oakville and 7 in Milton compared to the same period last year. The average selling price in Oakville decreased by 0.43% to $1,152,367 and Milton saw an increase of 4.21% to $767,093, For the Oakville report please click here and for the Milton area please click here.
G.T.A. MARKET UPDATE
The new President of the Toronto Real Estate Board, Michael Collins, announced that the GTA reported 8,860 sales in June 2019, representing an increase of 10.4% compared to June of 2018. Over the same time period, total new listings remained at a similar level for the month of June and active listings at month-end were down by 5.7%.
The overall Average Selling Price in June 2019 was $832,703 - up by 3% compared to last year. Price growth was driven by the higher density market segments, including semi-detached homes, townhouses and condominium apartments. The MLS® HPI (Home Price Index Composite Benchmark) was up by a simliar annual rate of 3.6% and the first half showed an increase of 2.4% compared to the first half of 2018.
For your full June report on the Mississauga area (which include the entire Peel Region) please click here. To listen to Jason Mercer, TREB's chief Market Analyst, on what the GTA experienced overall and his informative analysis please watch his video below: