It could be a good time for empty nesters to downsize. The Toronto Real Estate Board says the average selling price of a home in the Greater Toronto Area was up by nearly 5 percent in June from a year earlier at just over 531-thousand dollars.  The board says that “in line with the 2013 norm”, June price growth was driven by the single-detached and semi-detached houses, particularly in the city of Toronto.  Overall though, housing sales were down by less than one percent last month compared with June of 2012.

Over the same time period, average condominium apartment selling prices remained in line with 2012 levels.  But new listings were down more than sales, which the board says suggested that market conditions became tighter.