Toronto Real Estate Board reports Best June ever with One Day to Go

TORONTO, June 30, 2003--With 7,749 sales reported through the TREB MLS system, this month is already the best June ever recorded in the Toronto area, TREB President Cynthia Lai said today. "Sales are already up eight per cent over the 7,176 sales recorded in June of 2001, which was our previous best-ever figure for the month."

"June's performance is quite astounding given the challenges Toronto has faced during the first part of 2003," Mrs. Lai said. "However, it is likely that some of the activity we are seeing now is a result of buying decisions that were deferred during the first half of the year. This should make the summer market unusually robust."

There is also good news with respect to affordability as prices have fallen marginally, with the preliminary June figure coming in at $294,878, down one per cent from the $298,451 recorded in May. The median price also fell marginally to $255,000 from $256,100.

Full, finalized statistics will be available later this week in the Toronto Real Estate Board’s Market Watch report.

Serving more than 18,600 Realtors throughout the Greater Toronto Area, the Toronto Real Estate Board is North America's largest full service real estate board.

 

-30-

* Please note that TREB counts by business or sales days. In a 30 day month, there will usually be about 20 sales days, depending on when the weekends fall, holidays,
and so on.