Whether you are buying or selling a house, it is important to know the current real estate market trends and the market performance to make the right decision. So here is the real estate market update for the month of June’19.
As per the Greater Toronto Area REALTORS® report, the total number of sales in the month of June’19 is 8,860 which indicates a 10.4% increase compared to June’18. However, the total number of new house listings are at the same level and the active listings decreased by 5.7%
The stats are almost the same if we compare the first half of 2019 with the same period of 2018. The sales are up by 8.5% with the new listings lesser than 1%. The numbers represent the price growth and the competition among buyers to secure a property in various segments of the market.
Year-Over-Year Summary :
The overall average selling price in June 2019 is increased by 3.4% with an average of $832,703 which was $808,066 in June 2018.
Price growth is driven by the higher density market segments, including semi-detached houses, townhouses, and condominium apartments.
Area wise :
Apart from the overall real estate market trend, it is important to know the area wise trend as well to invest in the right place.