Jul 06, 2023
By Jane Brown
There was strong demand for housing in the GTA last month, but a recent interest rate hike and uncertainty surrounding inflation prompted a drop in both the average price and number of sales compared with May.
The latest report from the Toronto Regional Real Estate Board says average home prices and sales in the GTA were higher in June than they were a year earlier, but down from May of this year.
The average home sold for $1,182,120 last month, up 3.2-percent from the June before.
However, the price was below the average of $1,195,929 in May.
The board also found sales totalled 7,481 compared with 6,422 the June before and 8,997 in May.
New listings totalled 15,865, down about 3-percent from the year prior.