A record-breaking 11,992 homes exchanged hand in the Greater Toronto Area during June 2015, up 18.4 percent from June 2014.
According to the Toronto Real Estate Board (TREB), selling prices were up on a year-over-year basis for all major home types. The average selling price was up by 12.3 percent in June, from $569,574 in June 2014 to $639,184.
In the 416 area code, the average price for a detached home once again surpassed the million-dollar mark at $1,051,912 – that’s an increase of 14.2 percent over June 2014. Townhomes and condos also saw a huge jump in sales, both up 21 percent compared to the same month of last year.
In the 905 area code, the average price for a detached home was $738,016, up 15 percent from June 2014.
Year-to-date, 54,453 homes have been sold in the GTA for an average price of $624,938.