Home sales set new all-time record in June

Highlights

·         Residential sales up 6.5% in June 2016 compared to a year earlier. ·         New listings in Ontario numbered 37,666 units in June 2016, a decrease of 6.2% compared to last year. ·         The provincial average price of homes in June 2016 rose 13.9% compared to a year earlier. ·         There were just 1.9 months of inventory at the end of June 2016.

 

Unit Sales Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 28,030 units in June 2016, up 6.5% from a year earlier.   Newly Listed Units New listings on the MLS® Systems of real estate boards in Ontario numbered 37,666 units in June 2016, a decrease of 6.2% from a year earlier.     Average House Price The provincial average price for homes sold in June 2016 was a record $544,009, rising 13.9% from a year earlier.     Months of Inventory There were just 1.9 months of inventory at the end of June 2016, down from 2.8 months from the same time one year ago. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.     View detailed report Source: The Canadian Real Estate Association. Monthly Stats Report. Please do not reply to this email. If you wish to unsubscribe to this mailing list, please click here Ontario Real Estate Association | 99 Duncan Mill Rd. | Don Mills, ON | M3B 1Z2 | 1-800-265-6732 If you have any questions, please contact orearesearch@orea.com