OREB has released the stats for the June 2023 market. What does this all mean? By the numbers below for a quick snapshot. Read the full release here.
Sales Volume:
- Total residential properties sold in June 2023: 1,658
- Compared to June 2022: 1,493 properties (11% increase)
- Freehold properties sold in June 2023: 1,234
- Compared to June 2022: 1,122 freehold properties (10% increase)
- Condominium properties sold in June 2023: 424
- Compared to June 2022: 371 condominium properties (16% increase)
Average Sale Prices:
- Average sale price of a freehold-class property in June 2023: $746,445
- Compared to 2022: 4% decrease
- Still on par with May 2023 prices
- Average sale price of a condominium-class property in June 2023: $448,380
- Compared to 2022: 2% increase
- Up 1% over May 2023 prices
- Year-to-date average sale prices (2023):
- Freehold-class properties: $731,847
- Condominium-class properties: $432,885
- Compared to 2022:
- Freehold-class properties: 10% decrease
- Condominium-class properties: 7% decrease
Inventory & New Listings:
- New listings in June 2023: 2,758
- Compared to June 2022: 3,212 new listings (14% lower)
- Compared to May 2023: 2,822 new listings (2% lower)
- 5-year average for new listings in June: 2,802
- Months of Inventory (June 2023):
- Freehold-class properties: 2.1 months
- Condominium-class properties: 1.4 months
- Compared to June 2022:
- Freehold-class properties: Increased from 1.9 months
- Condominium-class properties: Decreased from 1.6 months
- Compared to May 2023:
- Condominium-class properties: Increased from 1.3 months
Days on Market (DOM):
- Freehold properties: 23 days
- Condominium properties: 27 days
Rental Assistance by OREB Members:
- Properties rented by OREB Members since the beginning of the year: 3,336
- Compared to last year at the same time: 2,919 properties (14% increase)
Note: All percentages mentioned above are calculated in comparison to the corresponding data from the previous year unless otherwise specified.
Please contact me with any questions and to help you navigate you home sale or purchase.
Source: OREB
Information located on this site is from sources believed to be reliable but should not be relied upon without verification. We assume no responsibility for its accuracy.
