Homes changing hands was up 18.4% to 11,992 units versus last year's 10,132.

July 7, 2015 - The Toronto & GTA resale real estate market put in yet another record performance in June, 2015, based on statistics released today by the Toronto Real Estate Board. In fact, the only "negative" statistics in the report were more positives - at least from a home seller's perspective: Total Active Listings continued to fall, down 13.1% compared to one year earlier, and the average number of days it took to sell a home fell by 3 days. All figures are year-over-year, unless otherwise noted.

Overall - meaning all TREB areas and all housing types - the number of homes changing hands was up 18.4% to 11,992 units versus last year's 10,132.

The average price of those sales was up 12.3% to $639,184.

Sales of Detached home in Metro Toronto ["The 416"] were up 13.7% to 1,488 at an average sale price of $1,051,912, up 14.2%. 4,457 Detached homes sold in June in the balance of the Greater Toronto area, up 20.0%, at an average price of $738,016, up 15.0%.

Sales of Condo Apartments leapt in both areas: There were 1,906 sales of Condo Apartments in Toronto, up 21.3%, at an average price of $418,599, up 7.0%, and 794 sold in the balance of the GTA, up 25.2%.

As noted above, the number of Total Active Listings was down 13.1% from 20,686 last June to 17,972 this June.

Considering the total sales of 11,992, that Total Active Listings figure gives an indicated "Forward Inventory" of just 1.5 months.

As Mark McLean, president of the Toronto Real Estate Board, puts it, "...the annual rate of sale growth continues to far outstrip listings growth, which means that there remains a lot of willing buyers in the marketplace...".

That average Days on Market [DOM] stat was 19 days, or "13.6% faster", compared to last June's average DOM of 22 days.

Enjoy your summer!

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