The average home price in June was $413,215, down 0.8% from May and up 6.9% from the same month last year. Vancouver and Toronto continue to have a large effect on the national average. Outside of these two cities, prices averaged $336,164, which is up 5.2% from the previous year.
According to the Canadian Real Estate Association, 41,186 homes sold in Canada in June. This was only a 0.8% increase from the previous month after two months of increases close to 5%. Home sales were up 5.5% from the same month of the previous year, as the market continues to grow but not quite as sharply as previous months.
The number of new listings coming on the market in June was relatively unchanged from May, dropping just 0.1% to 76,794 homes. This translates to a sales-to-new-listing ratio of 53.6%, leaving the country still firmly entrenched in a balanced market, but moves the ratio slightly in the direction favoring sellers.
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