June in the GTA: A Market Full of Maybes

June Market Snapshot: Cautious Optimism… or Calm Before the Flood?

June didn’t exactly set the market on fire—but there are some signs of life.

More listings? Yes.
Slight increase in sales? Also yes.
A sense that buyers are still circling the block a few more times before pulling into the driveway? Definitely.

Here’s the breakdown:

📉 Total Sales:
6,243 homes sold—down 2.4% from last June.

📈 New Listings:
19,839—up 7.7% year-over-year. Fewer than May, but still high.

💰 Average Selling Price:
$1,101,691—down 5.4% from June 2024. A steady descent, not a crash.

📊 Sales-to-New-Listings Ratio:
At 31%, it’s a notch above May (29%) but still far from healthy. Need 50% to feel better here!

🏡 Average Prices by Property Type:

• Detached: $1,392,033

• Semi-Detached: $1,089,751

• Townhouse: $871,652

• Condo: $696,424

So, What’s Actually Happening?

This market is giving off mixed signals.

✅ Borrowing costs are lower than last year.
✅ Inventory is still coming in strong.
✅ Buyers have more choice than they’ve had in years.
✅ You can actually negotiate again.

But despite all that, things still feel… hesitant.

Blame the 8.8% unemployment rate in Toronto. Blame the trade tensions. Blame the fact that interest rates seem to be frozen in place.

And you know the home invasion situation is bad when the Chief Information Officer of TRREB brings it up in the monthly housing report 😉.

“It is important to highlight that housing is not just impacted by economic and financial issues. Canadian residents, both homeowners and renters alike, are increasingly having to deal with the nightmare of violent home invasions and carjackings,” 

Looking Ahead: A Tipping Point?

Here’s something worth thinking about:

All the listings that aren’t selling right now? If they don’t move this summer and stack on top of fall’s fresh inventory, we could be looking at one of the most buyer-friendly markets we’ve seen in decades—especially if rates and the economy don’t turn a corner.

Of course, the flip side is a slow tightening of supply that quietly props up prices. Either way, this market rewards strategy, patience, and strong representation more than ever.

Until next month,
Kam