Key Takeaway’s for this month:
- The number of home sales in the GTA were historically high in May 2021, but fell short of the 2016 record and remained below this year’s March peak
- Prices for all home types across the GTA are up 28% year over year.
- This is driving the average selling price for all home types across the GTA to $1.108 million.
- The gap between the average price of a condominium and a detached home in Toronto is now $1 million, driving more people to the rebounding Condo market.
- In May, it took an average of 17 days on market to sell a home, up from 13 days in April in the GTA
- Inventory remains historically low at just 1.03 months of inventory – that means if no other homes were listed for sale, we would be sold out in that amount of time.
- Below are the stats for your city. Remember: Real Estate is all about location. You want a Realtor who understands the micro market that you live in or want to live in, as price changes differ greatly from neighbourhood to neghbourhood.
- If you would like specific market stats on your neighbourhood, or a free home evaluation, please feel free to contact me at 416-837-9676.
- Toronto May 2021
- Toronto West May 2021
- Mississauga may 2021
- Oakville May 2021
- Burlington May 2021
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