07/13/2023
The demand for ownership housing in GTA is stronger than last year, despite higher borrowing costs. With this said, home
sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest
rates.
There were over 7,481 sales through TRREB’s MLS® System in June 2023 – up 16.5 percent compared to June 2022. The number of listings was down by three percent over the same period.
The year-over-year increase in sales coupled with the decrease in new listings mean market conditions were tighter
this past June relative to the same period last year. The average selling price was up by 3.2 percent to $1,182,120.
A resilient economy, tight labour market and record population growth kept home sales well above last year’s lows.
#2023
