June Real Estate Market

Toronto Real Estate Board June MLS sale statistics:

• GTA single family home sales including condominiums - 11,106.
• Volume - up 28.5%, compared to June 2020 8,645 sales. (COVID lockdown impacted sales June 2020)
• Volume - down 0.7% compared to May 2021 11,951 sales.
• Average price of a GTA single family home - $1,075,636.
• Up 15.7% from 2020's average price of $929,629.

“Home sales soared at the start of the year, with a huge sales record in the first quarter. However, the record pace of sales has run its course as pent-up demand has increasingly been satisfied in the absence of normal population growth. With this said, a persistent lack of inventory across most segments of the market will keep competition between buyers strong, resulting in an average selling price well above $1 million through the end of 2021,” said TRREB Chief Market Analyst Jason Mercer.

We track MLS sales daily.

• November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
• June 2021 30-55% of central district properties sold for asking or under.

The June residential resale market was a story of the strong freehold market and a strong condominium market which has rebounded after last year's downturn.

• The GTA freehold inventory remains limited.
• June some well-priced or under-priced homes sold for over asking price in bidding wars or "bully offers".
• Total new listings June 2021 decreased 0.1% over June 2020.
• Some ambitiously priced properties remain unsold after 2, 3 months or more.
• If offered at a realistic market price, rental properties lease quickly.