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Jason Mercer, Manager of Market Analysis at TREB, stated that more than 9,000 sales were reported on the MLS system in June – which was a decrease of about 1% in comparison to June of 2012. This rate of decline was substantially less than what was reported in the first quarter. Mr. Mercer surmised that this was due, in part, to households adjusting to the tightened CMHC lending guidelines that were announced last year.
He also indicated that, inside Toronto, the land transfer tax continues to weigh heavily on the minds of folks looking to buy, and this could be the single consideration that pushes a homebuyer to look at buying in the 905 area.
With sales slightly down, the average sale price of a home rose 5% year over year, to an average sale price of over $530k, due to continued demand.
You can view the full TREB Watch video here http://www.youtube.com/watch?v=JUK015OspnE
Looking for sales history information on a particular property or neighbourhood? Login to GeoWarehouse to find all of the information you need to investigate a particular property or community. Visit www.geowarehouse.ca.