Toronto’s housing market continued to trend in a positive direction this June, with affordability steadily improving. Average home prices and borrowing costs remained lower than this time last year, giving more buyers a foothold in the market—even as some continue to wait for added economic clarity.
Sales activity gained month-over-month traction, and with more listings available, buyers are enjoying greater choice and the ability to negotiate. In fact, many are taking advantage of today’s softer pricing - down 3% year-over-year to an average of $1,132,709 - to secure properties that may have been out of reach in previous years.
Beyond the numbers, households continue to watch the evolving economic and trade environment. Positive developments such as improved trade relations or additional rate cuts could go a long way in boosting consumer confidence and re-energizing the market as we head into the second half of the year.
All told, this is shaping up to be a market of opportunity for those ready to act. If you’re thinking about buying or selling, let’s talk strategy and position you for success.
Looking to buy or sell a home in Toronto? Average prices in June were as follows:
➕Detached $1,641,868 [-7% vs. 2024]
➕Semi-detached $1,278,434 [+2% vs. 2024]
➕Townhouse $957,605 [-5% vs. 2024]
➕Condo $731,232 [-4% vs. 2024]
Data presented is for City of Toronto Only. Source: TRREB.
Sales activity gained month-over-month traction, and with more listings available, buyers are enjoying greater choice and the ability to negotiate. In fact, many are taking advantage of today’s softer pricing - down 3% year-over-year to an average of $1,132,709 - to secure properties that may have been out of reach in previous years.
Beyond the numbers, households continue to watch the evolving economic and trade environment. Positive developments such as improved trade relations or additional rate cuts could go a long way in boosting consumer confidence and re-energizing the market as we head into the second half of the year.
All told, this is shaping up to be a market of opportunity for those ready to act. If you’re thinking about buying or selling, let’s talk strategy and position you for success.
Looking to buy or sell a home in Toronto? Average prices in June were as follows:
➕Detached $1,641,868 [-7% vs. 2024]
➕Semi-detached $1,278,434 [+2% vs. 2024]
➕Townhouse $957,605 [-5% vs. 2024]
➕Condo $731,232 [-4% vs. 2024]
Data presented is for City of Toronto Only. Source: TRREB.
RSS Feed