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GTA remains a Seller's market for both Detached Homes and Condos in June

Thursday, July 12th, 2018 at 2:23pm Allison Parent

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.

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