LOIC DANIS

Sutton Group - Old Mill Realty Inc. Brokerage

  • HOME
  • WHY LOIC?
    • WHY LOIC?
    • ABOUT LOIC
    • MY SOLDS
    • WHAT LOIC'S CLIENTS SAY...
  • SEARCH MLS LISTINGS
    • SEARCH MLS LISTINGS
    • FEATURED LISTINGS
    • TORONTO WEST NEIGHBOURHOODS >
      • THE KINGSWAY
      • SUNNYLEA
      • MIMICO + NEW TORONTO
      • LONG BRANCH + ALDERWOOD
      • BLOOR WEST VILLAGE + BABYPOINT
      • HIGH PARK + SWANSEA
      • RONCESVALLES
      • THE JUNCTION
  • TORONTO REAL ESTATE NEWS BLOG
  • TOOLS
    • MORTGAGE PAYMENT + LAND TRANSFER TAX CALCULATOR
    • CLOSING COSTS
  • CONTACT LOIC
CONTACT LOIC

MARKET UPDATE // MAY 2018

6/4/2018

 
Picture
June 4, 2018 -- Greater Toronto Area REALTORS® reported 7,834 sales through TREB's MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30 per cent. On a month-over-month basis, seasonally adjusted May sales were basically flat compared to April.
Supply of homes available for sale continued to be an issue. New listings were down by 26.2 per cent. The fact that new listings were down by more than sales in comparison to last year means that competition increased between buyers. Recent polling conducted by Ipsos for TREB suggests that listing intentions are down markedly since the fall.
"Home ownership remains a sound long-term investment. Unfortunately, many home buyers are still finding it difficult find a home that meets their needs. In a recent Canadian Centre for Economic Analysis study undertaken for the Toronto Real Estate Board, it was found that many people are over-housed in Ontario, with over five million extra bedrooms. These people don't list their homes for sale, because they feel there are no alternative housing types for them to move into. Policy makers need to focus more on the 'missing middle' – home types that bridge the gap between detached houses and condominium apartments," said Mr. Syrianos.
The MLS® Home Price Index (HPI) Composite Benchmark was down by 5.4 per cent year-overyear. The average selling price for all home types combined was down by 6.6 per cent to $805,320. On a seasonally adjusted basis, the average selling price was up by 1.1 per cent compared to April 2018.
"Market conditions are becoming tighter in the Greater Toronto Area and this will provide support for home prices as we move through the second half of 2018 and into 2019. There are emerging indicators pointing toward increased competition between buyers, which generally leads to stronger price growth. In the City of Toronto, for example, average selling prices were at or above average listing prices for all major home types in May," said Jason Mercer, TREB's Director of Market Analysis.

Click here for the full report.


Comments are closed.

    LOIC DANIS

    Loic Danis is a Toronto Real Estate Broker and Broker of Record/Owner of Sutton Group Old Mill Realty Inc. specializing in residential and investment real estate in Downtown Toronto, Etobicoke + West Toronto neighbourhoods including The Kingsway, Babypoint, Sunnylea, Swansea, Roncesvalles, High Park, Swansea, New Toronto, Mimico, Waterfront Communities, Yorkville, St. Lawrence Market, Bay Street Corridor and more! 

    Categories

    All
    Banbury-Don Mills Real Estate
    Bay Street Corridor
    Church-Yonge Corridor
    High Park - Roncesvalles
    Just Listed
    Lawrence Manor Real Estate
    Market Outlook + Year In Review
    Market Update
    Mimico Real Estate
    Mineola
    Mississauga Real Estate
    Mount Dennis Real Estate
    Palmerston - Little Italy
    Sunnylea Real Estate
    Toronto Condos
    Toronto Real Estate
    Waterfront Communities Real Estate

    RSS Feed

CONTACT



LOIC DANIS
Broker of Record

Direct | 416-671-0300
Office  | 416-234-2424

Sutton Group - Old Mill Realty Inc. Brokerage
CONTACT LOIC

NEIGHBOURHOOD SEARCH


THE KINGSWAY
SUNNYLEA
MIMICO + NEW TORONTO
LONG BRANCH + ALDERWOOD
BLOOR WEST VILLAGE + BABYPOINT
HIGH PARK & SWANSEA
RONCESVALLES
THE JUNCTION

NEWSLETTER SIGN UP


COPYRIGHT © LOIC DANIS 2017
Site Design by The Real Estate Marketing Shop