Sales activity in June decreased by 17% compared to the previous month in May. The decrease in activity was expected as we come off the bustling spring market and transition into the slower summer months. It’s notable that the GTA experienced a year-over-year increase in sales compared to June 2022, even though interest rates were much lower a year ago. 7,481 transactions were reported in June 2023, an increase of 16.5% compared to June 2022.
The average sold price was $1,182,120 in June 2023. That figure is up 3.2% year-over-year but still below the peak of $1,334,544 reached in February 2022. It’s worth noting that the average selling price has trended higher in the first half of the year, up an astonishing 13.8% from January, when the average price was $1,038,668.