TORONTO - Thursday, June 3, 2010
Greater
Toronto REALTORS® reported 8,442 sales through the Multiple Listing Service® MLS®) in June. This represented a 23 per cent
decrease compared to the record 10,955 sales reported in June 2009. Sales for
the second quarter of 2010 amounted to 28,810 – up one per cent annually. Year-to-date sales through
June were up 23 per cent to 50,455 compared to the first six months of 2009.
“We experienced a
record number of existing home sales during the first half of 2010, but these
sales were weighted more towards the beginning of the year,” said Toronto Real
Estate Board President Bill Johnston. “The pace of home sales has moderated from
record levels over the past two months with the prospect of higher mortgage
rates.
The
average price for June transactions was $435,034 – up eight per cent compared
to the
average
of $403,972 recorded for June 2009.
“With
more homes to choose from in the second quarter, many home buyers have been
making
less-aggressive
offers. This has resulted in less upward pressure on the average selling
price,”
said
Jason Mercer, TREB’s Senior Manager of Market Analysis. “The
annual rate of average price growth in the second half of 2010 will be in the
single digits.”