If you delve into the 10,955 sales in the month of June you see that 6,593 of them were in the 905 suburbs and only 4,362 were in 416.  The average price of a home in 905 is over $60,000 less than in the 416 area code.  This along with the double land transfer tax makes for a significant savings of buying in 905.

There are 30% fewer listings on the market this year and this is pushing the market back towards the Seller’s market again.  There is such little inventory on the market that once again we are witnessing bidding wars!  There are lots of areas where homes are still going for over asking for example The Beaches and South Etobicoke.

The avergae days on the market is back to 33 and this can also be attributed to the lower inventory levels.

I see that this summer is going to be very hot in Toronto Real Estate.  So seize the opportunity now

One Response to “June Market Update”

1. Blogging from the Big Top – The Carnival of Real Estate Comes to Town | Florida Mortgage Blogger says:

   July 13, 2009 at 2:46 am

   [...] Collins presents a June Market Update for the Toronto Real Estate Market posted at Toronto Real Estate Blog.  Lisa joins this week’s carnival based on our need to [...]