Toronto MLS sales hit a new record high

Following news Monday that Vancouver home sales had hit a new record for June, Toronto also had an exceptional month.

New data from the Toronto Real Estate Board show that there were 11,992 sales through its MLS system in June, a new record and 18.4 per cent higher than a year earlier.

The average selling price in Toronto was up by 12.3 per cent over the same period to $639,184. Demand for homes is outpacing supply.

TREB’s director of market analysis Jason Mercer noted that, although new listings have increased, prices will continue to increase in the market while the low-supply persists.

High-end home sales made up a greater proportion of the sales in June compared to the same month last year.

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