Greater Toronto Area-home sales ticked 2.4 per cent lower in June compared with a year earlier as 6,243 properties changed hands, while new listings rose.
The Toronto Regional Real Estate Board says sales were up 8.1 per cent from May on a seasonally adjusted month-over-month basis, as the housing market “continued to show signs of recovery.”
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The board says 19,839 new properties were listed in the GTA last month, up 7.7 per cent compared with last year.
TRREB president Elechia Barry-Sproule says that with more listings available and lower borrowing costs than this time last year, home ownership is becoming more attainable and buyers have been negotiating discounts on asking prices.
The average selling price decreased 5.4 per cent compared with a year earlier to $1,101,691, and the composite benchmark price, meant to represent the typical home, was down 5.5 per cent year-over-year.
Active listings hit 31,603 last month, up 30.8 per cent from June 2024’s inventory of 24,169 homes.
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