Ontario Real Estate Association

Ontario MLS® home sales reach second highest June on record despite record low levels of supply

Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 26,191 units in June 2021. This was up by 12.6% from June 2020 and marked the second best showing for this month in history.

Home sales were 15.6% above the five-year average and 13.8% above the 10-year average for the month of June.

On a year-to-date basis, home sales totalled a record 152,840 units over the first six months of the year. This was a substantial increase of 71.2% from the same period in 2020.

Nationally, home sales activity was up by 13.6% from year-ago levels in June 2021.

The average price of resale residential homes sold across the province in June 2021 was $857,754, a sizable gain of 26.1% from June 2020.

The more comprehensive year-to-date average price was $864,010, a substantial gain of 30.5% from the first six months of 2020.

The national average price, by comparison, marked a sizable gain of 25.9% on a year-over-year basis to $679,051 in June 2021.

The number of new listings on MLS® Systems of real estate boards in Ontario was up modestly by 3.6% from June 2020. There were 36,327 new residential listings in June 2021.

New listings were 0.3% below the five-year average and 0.8% below the 10-year average for the month of June.

Active residential listings numbered 25,277 units on the market at the end of June, a substantial decrease of 27.7% from the end of June 2020. Active listings haven't been this low in the month of June in more than three decades.

Active listings were 42.5% below the five-year average and 56% below the 10-year average for the month of June.

Months of inventory numbered 1 at the end of June 2021, down from the 1.5 months recorded at the end of June 2020 and below the long-run average of 2.6 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in the province in June 2021 was $22.5 billion, an advance of 41.9% from the same month in 2020. This was also a new record for the month of June.


1 Oakville-Milton, Greater Toronto

2 Cornwall, Kingston and Area, Ottawa, Renfrew County, Rideau-St. Lawrence

3 Bancroft & District, Barrie & District, Kawartha Lakes, Muskoka Haliburton Orillia, Northumberland Hills, Parry Sound, Peterborough and the Kawarthas, Quinte & District, Southern Georgian Bay

4 North Bay, Saul Ste. Marie, Sudbury, Thunder Bay, Timmins, Cochrane & Timiskaming Districts

5 Brantford Region, Cambridge, Guelph & District, Hamilton-Burlington, Kitchener-Waterloo, Niagara Region, Simcoe

6 Chatham-Kent, Grey Bruce Owen Sound, Huron Perth, London & St. Thomas, Sarnia-Lambton, Tillsonburg District, Windsor-Essex, Woodstock-Ingersoll

BOARD & ASSOCIATION INFORMATION

The Ontario Real Estate Association represents 78,000 brokers and salespeople who are members of the 38 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. The association provides all real estate licensing courses in Ontario. REALTOR® is a trademark, which identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standards of professional service and to a strict Code of Ethics.

For additional information, please email info@orea.com


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For more information, please contact:
Katarina Praljak
Head of Communications
T: 416-445-9910
info@orea.com

President
Karen Cox