In June, Toronto residential sales increased by 15.4 per cent, year-over-year, to 10,180 transactions, according to the Toronto Real Estate Board. At the same time, the average selling price for transactions was $568,953, an increase of 7.4 per cent over June 2013. Condo prices increased by 6.8 per cent.

“Home buyers in the Greater Toronto Area are confident in their ability to purchase and affordably pay for a home,” says Paul Etherington, President of the Toronto Real Estate Board. “Generally speaking, buyers feel that ownership housing will be a good investment over the long term. This is why we continued to see increases in home sales in June for all major home types across the GTA. Given the degree of pent-up demand in the market today, I would expect to see sales growth continue through the summer.”

In terms of sales growth, the condominium sector beat out other housing types with an increase of 21.4 per cent, according to TREB. New listings were also up, year-over-year.