The Numbers for May are in! ➕ Toronto’s housing market continued to see improved affordability in May, offering more opportunities for buyers. While overall sales activity remained slower than last year, month-over-month gains and a growing number of listings gave buyers more choice and leverage.
Year-over-year, sales in Toronto were down 14%, while new listings rose by 7%. The average selling price declined 3% to $1,155,616. Still, overall sales price edged up slightly from April on a seasonally adjusted basis—hinting at a modest tightening in market conditions.
Affordability has improved from a year ago, thanks to both lower prices and reduced borrowing costs. However, many buyers remain on the sidelines due to economic uncertainty—especially around trade relations with the U.S. Confidence is expected to return as clarity emerges on that front, and if borrowing costs ease further.
For now, buyers who are ready to act are finding more negotiating power and inventory than they did last spring. Whether you're planning to enter the market or just watching for the right moment, preparation and expert guidance remain key. Let’s talk strategy if you’re thinking of making a move.
Looking to buy or sell a home in Toronto? Average prices in May were as follows:
➕Detached $1,719,937 [-6% vs. 2024]
➕Semi-detached $1,299,387 [+1% vs. 2024]
➕Townhouse $1,009,698 [-3% vs. 2024]
➕Condo $709,905 [-7% vs. 2024]
••••••
Data presented is for City of Toronto Only. Source: TRREB.
Year-over-year, sales in Toronto were down 14%, while new listings rose by 7%. The average selling price declined 3% to $1,155,616. Still, overall sales price edged up slightly from April on a seasonally adjusted basis—hinting at a modest tightening in market conditions.
Affordability has improved from a year ago, thanks to both lower prices and reduced borrowing costs. However, many buyers remain on the sidelines due to economic uncertainty—especially around trade relations with the U.S. Confidence is expected to return as clarity emerges on that front, and if borrowing costs ease further.
For now, buyers who are ready to act are finding more negotiating power and inventory than they did last spring. Whether you're planning to enter the market or just watching for the right moment, preparation and expert guidance remain key. Let’s talk strategy if you’re thinking of making a move.
Looking to buy or sell a home in Toronto? Average prices in May were as follows:
➕Detached $1,719,937 [-6% vs. 2024]
➕Semi-detached $1,299,387 [+1% vs. 2024]
➕Townhouse $1,009,698 [-3% vs. 2024]
➕Condo $709,905 [-7% vs. 2024]
••••••
Data presented is for City of Toronto Only. Source: TRREB.
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