The Toronto Real Estate Board says the number of homes sold last month plunged 37.3 per cent compared with a year ago, even as the number of listings rose.
The board says 7,974 homes in the Greater Toronto Area changed hands in June while the number of new properties on the market climbed 15.9 per cent year-over-year to 19,614.
The average price for all properties was $793,915, up 6.3 per cent from the same month last year.
The data comes after the Ontario government introduced rules in April aimed at cooling Toronto's housing market, including a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region.