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Given the concern expressed by policy makers and analysts regarding the state of the housing market in Toronto, monthly releases of market activity are of special interest in this climate of uncertainty. Acting as a financial barometer, these reports provide important direction for investors. Below is a summary of the most relevant data from the report provided to us by RealNet.
June Sales Results
3rd highest June High Rise sales on record
Lowest June Low Rise Sales on record
Total June sales 9% below the long term average
Q2 Sales Results
2nd highest Q2 High Rise sales on record - 51% higher than the long term average
3rd lowest Q2 Low Rise sales on record - 27% lower than the long term average
5th highest Q2 Total New Homes sales on record - 4% higher than the long term average
Market results for the Greater Toronto Area are based on all active new home projects in the GTA with more than 15 units in either Low Rise (detached, semi-detached, townhouse or link) or High Rise (apartment, loft or stacked townhouse) new home projects.
RealNet is the official source of new home information for the Building Industry and Land Development Association (BILD) and the Toronto Real Estate Board (TREB).
