June Market Update 

Blog post coAs we enter the summer season, it looks like the housing market is finally regaining its equilibrium. June sales were steady, up 54 per cent compared to last year, and 18.4 per cent above the 10-year June average. 
However, there were 12 per cent fewer sales and 18 per cent fewer homes listed last month compared to May 2021, a sign that the market is returning to more normal conditions after a record-setting start to the year! Here are a few highlights:
  • The market is calmer. There were 3,762 sales in June 2021, compared to 4,268 in May.  After the competitive conditions of the spring, things are finally looking friendlier for buyers. Multiple offers and subject-free offers are becoming less common. 
  • Prices are plateauing. The benchmark price for all properties was $1,175,100, an increase of 0.2 per cent from May 2021. This also represents an increase of 14.5 per cent over June 2020
  • Still a strong seller’s market. The sales-to-active listings ratio in June was 34.7 per cent, showing that demand for all housing types is still high. This is especially true for townhomes, with a ratio of 49.2 per cent. 

Want more details? Download the full June 2021 stats package.
With low interest rates and a growing economy, many Canadians are in a great position to buy a home— and now that things are a little less intense, this could be the perfect time to make a move. Whether you’re looking to buy, sell, or just understand your options—  let’s connect.
I also have some exciting news to share next month, so stay tuned!