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June home sales in Toronto just shy of year ago, prices up nearly 12%

Last Updated Jul 7, 2020 at 7:56 am EDT

A sold sign is shown in front of west-end Toronto homes on April 9, 2017. THE CANADIAN PRESS/Graeme Roy
Summary

Home sales plunged earlier this year as the pandemic forced buyers to the sidelines, however sales have picked up


There were 8,701 homes sale in June, down 1.4 per cent compared with the same month last year


The Toronto Regional Real Estate Board says the number of homes sold in the region in June was just shy of the mark set a year ago as the average selling price rose nearly 12 per cent compared with June 2019.

Home sales plunged earlier this year as the COVID-19 pandemic forced buyers to the sidelines, however sales have picked up as businesses have started to reopen.

The real estate board says there were 8,701 homes sale in June, down 1.4 per cent compared with the same month last year.

On a seasonally adjusted basis, sales in June were up 84 per cent compared with May.

The average selling price was $930,869, up 11.9 per cent compared with June 2019.

Toronto board president Lisa Patel says it’s still the early days of recovery, but barring any setbacks, she expects to see stronger market conditions in the second half of the year.