The Numbers for May are in  + a cautious path to market recovery has emerged. We’re beginning to see buyers + sellers coming back into the #torontorealestate market.  Though he number of sales + new listings in Toronto continue to be down vs. May of 2019 - both have increased 40-45% vs. last month.  Interestingly, prices continue to hold + show reasonable gains vs. last year - largely attributed to the low levels of inventory.  We know that 1 month does make a trend, however given our office activity, we’re expecting June to show continued growth!

The Numbers for April #TorontoRealEstate are in + to the surprise of no one the number of sales in Toronto, similar to the GTA, have drop significantly in April. Interestingly, prices have not seen the same rate of decline, as the current demand from buyers is consistent with the current supply of listed properties.  See below for more information

The Numbers Are In! ///  Looks like spring is arriving early this year for #torontorealestate….Find out the latest monthly stats.   ​

Data presented is for Toronto Only.

The Numbers Are In! ///  It’s that time of month again…..Find out the latest monthly #torontorealestate stats.  Data presented is for Toronto Only.

Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB's MLS® System in November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis, sales were up year-over-year for all major market segments. Annual sales growth in ground oriented home types, including detached houses, led the way. 
New listings entered into TREB's MLS® System in November and the active listings count at the end of the month went in the opposite direction compared to last year, with new listings down 17.9 per cent year-over-year and active listings down 27.2 per cent. 
"An increasing number of home buyers impacted by demand-side policies over the past three years, including the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test, have moved back into the market for ownership housing. Based on affordability and stricter mortgage qualification standards, many buyers may have likely adjusted their preferences, changing the type and/or location of home they ultimately chose to purchase," said Mr. Collins.

As market conditions continued to tighten in November 2019, with increased sales up against an increasingly constrained supply of listings, the annual rate of price growth continued to accelerate. The MLS® Home Price Index Composite Benchmark increased by 6.8 per cent year-over-year. The average selling price increased by 7.1 per cent year-over-year to $843,637. Both the MLS® HPI and the average selling price for the TREB market area as a whole experienced the strongest annual rates of price growth for the year in November. 
"Strong population growth in the GTA coupled with declining negotiated mortgage rates resulted in sales accounting for a greater share of listings in November and throughout the second half of 2019. Increased competition between buyers has resulted in an acceleration in price growth. Expect the rate of price growth to increase further if we see no relief on the listings supply front," said Jason Mercer, TREB's Chief Market Analyst.