DETACHED HOMES IN THE GTA
The detached home market in the Greater Toronto Area managed to remain in a Seller's market in June 2018, with 3.5 months of inventory.
Of course, the determination of what a "balanced" market is can vary by region, but most experts agree that markets holding 4-6 months of inventory can be considered balanced, while those with more being considered a Buyer's market, and those with less than 4 months of inventory being considered a Seller's market.
Detached home sales volumes are still relatively low, with higher inventory levels than we have seen in several years. The average sold price of a detached home in the Greater Toronto Area was $1,033,574 in June.
CONDOMINIUM APARTMENTS IN THE GTA
The condominium apartment market in the Greater Toronto Area remained a strong Seller's market in June 2018, with 1.8 months of inventory.
Condominium apartment sales volumes are quite strong, with 2234 units sold in June. The average sold price of a condominium apartment in the Greater Toronto Area has continued to increase and was $561,097 in June.