The average home price was $453,560 in June according to CREA. This was up 0.5% from May and is a year-over-year increase of 9.7%. Large price gains continue to be concentrated in the Greater Toronto and Vancouver areas, while most other markets posted more moderate price increases. In fact, excluding Toronto and Vancouver, the average price increased only 3.1% year over year in June.
42,908 homes sold in June according to seasonally adjusted data released by The Canadian Real Estate Association. This is a decrease of 0.8% from last month and an increase of 4.3% from June of last year.
A seasonally adjusted 75,003 homes came on the market in June, decreasing the sales-to-new-listings ratio to 57.2%. While the number of new listings decreased slightly from the previous month, the decline in sales led the ratio to move down slightly.
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