June 2022 Stats are out & borrowing costs continued to impact the amount of homes sold. 6,474 sales occurred last month, down by 41% compared to last year's strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.

The average selling price, at $1,146,254, remained 5.3% above the June 2021 level, but continued to trend lower on a monthly basis. The MLS® Home Price Index Composite benchmark was up by 17.9% year-over-year, but also experienced a month-over-month dip compared to May.

Annual price growth was driven more so by less expensive market segments, including townhouses and condominium apartments.

While the number of transactions was down year-over-year, the number of new listings was little changed over the same period. This has provided for more balance in the market, resulting in a more moderate annual pace of price growth.

Contact me with questions as to how this impacts your buying or selling decisions!

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

Read Full Market Stats Package