July 4, 2019 / 3:28 PM / 18 days ago

TABLE-Toronto home sales jump 10.4% in June as market conditions tighten

    OTTAWA, July 4 (Reuters) - Home sales in Toronto jumped 10.4% in June
and the average home price edged up as market conditions tightened,
leaving buyers with fewer affordable options, according to new data from
the Toronto Real Estate Board (TREB) released on Thursday. 
    The average home price increased 3.0% to C$832,703 ($637,793) from an
average of C$808,066 reported a year ago. The number of new listings was
down less than 1% from a year ago, the board said, while active listings
at month-end declined by 5.7%.
    "Buyers started moving off the sidelines in the spring, as evidenced
by strong year-over-year price growth through the second quarter," TREB
Chief Market Analyst Jason Mercer said in the release. 
    Given there was "virtually no change" in the number of new listings,
Mercer said "market conditions tightened and price growth picked up,"
particularly for more high density homes which, on average, are cheaper
than traditional detached homes.
    The following are details on Toronto home sales and prices in June,
released by the Toronto Real Estate Board on July 4, 2019.    
    
                  MONTH       PREV MONTH    MONTH 2018   YR/YR PCT CHANGE
 TOTAL SALES    8,860        9,989         8,024         10.4%
                                                         
 AVERAGE PRICE  C$832,703    C$838,540     C$808,066     3.0%
 NEW LISTINGS   15,816       19,386        15,876        -0.4%
 After preliminary seasonal adjustment
                 (MONTH)      MTH/MTH PCT CHANGE
 SALES          7,416       0.3%
 AVERAGE PRICE  C$809,996   1.7%
 Sales by type of property
                          MONTH        YR/YR PCT CHANGE
 DETACHED           4,225              18.6%
 SEMI-DETACHED      886                9.4%
 TOWNHOUSE          1,480              12.0%
 CONDO APARTMENT    2,149              -3.2%
    
    [1C$ = U.S $1.31]

 (Reporting by Kelsey Johnson; 
Editing by Sandra Maler)
  
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