Toronto: Strong increase in residential sales reported last month


    The Toronto Real Estate Board said that a strong increase in residential sales was reported through the TorontoMLS system in June. Sales were up by 15.4% year-over-year to 10,180 transactions.

    New listings were also up compared to the same period in 2013, but by a lesser annual rate. This means that competition between buyers increased in June.

    The average selling price for June transactions was $568,953, representing an increase of 7.4% compared to June 2013. The strongest price increase for the GTA as a whole was for semi-detached houses, with the average price up by 9.7% year-over-year. The pace of price growth for condominium apartments was also strong at 6.8%.

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