Toronto Real estate Board - released the June 2011 numbers, please see the report .....

It cost on average more than a half-million dollars to buy a home in the city last month, according to the latest numbers from the Toronto Real Estate Board.

The average Toronto home price in June was $512,879, up from $466,220 a year earlier. When the rest of the GTA was included, the average home price was less. But it too jumped about 10% to $476,371.

“While sales have been strong, we would be on track for a record number of transactions in 2011 if not for the decline in listings so far this year,” the Board’s Jason Mercer said in a statement released Wednesday. “Tight supply meant more competition between  home buyers .”