The Toronto Real Estate Board says home sales were up 10.4% in June compared with last year as the market continued a moderate spring rebound.
It says the Greater Toronto Area saw 8,860 sales through the Multiple Listing Service system in the month, up from 8,024 in the same month last year.
The rise in sales, combined with a very slight dip in new listings, helped push the average selling price up 3% to $832,703.
Sales data for the month falls roughly in line with trends for the first half of the year, which saw sales up 8.5% and the average selling price climb 2.4%.
“Buyers started moving off the sidelines in the spring, as evidenced by strong year-over-year price growth,” said TREB chief market analyst Jason Mercer in a statement.
“Because we saw virtually no change in the number of new listings, market conditions tightened and price growth picked up, especially for more higher density home types.”
Average condo selling prices have climbed 5% so far this year, townhouse prices are up 2.7%, semi-detatched homes are up 4.5%, while detached home prices have dipped 0.8%.
For June, condo prices climbed 5.2% as sales dropped 3.2%, while detached home prices dipped 1.4% as sales rose 18.6%.
New listings for June totalled 15,816, down 0.4% from last year.