The Toronto real estate market is showing signs of growth as many believe the market has adjusted to the tighter lending guidelines set in the fall of 2012. Most experts are forecasting an improvement in sales in the second half of 2013 so it appears this prediction is on track.
The Toronto and GTA MLS system reported 4,620 sales which was up 4.7% over the same period in 2012. New listings were also down slightly over this same period in 2012 showing market conditions are becoming tighter.
The average selling price for the first two weeks on June was $536,141 up by 3.8% from June 2012. All areas are showing strong growth numbers and the outlook for the second half of 2013 is positive.
Read more in the June Update from the Toronto Real Estate Board.
