TORONTO MLS Homes Sold Report For May 2021 | Home Prices Increased By 28% in May 2021

🔶 Toronto Homes Sold Report - May 2021
🔶 11,951 🏠 sales in May 2021 were reported compared to 4,594 in May 2020– more than double the result from last year.
🟡 Average Price ⬆️ 28.4%
🌐 Download Complete Report: http://bit.ly/TREB-MAY21

Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and were below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.

Greater Toronto Area REALTORS® reported 11,951 sales in May 2021 – more than double the result from May 2020, the second full month of the pandemic. May 2021 sales were below the May 2016 record of 12,789 but remained well above the average May sales of 10,336 for the 2010 through 2019 period. Often, May is the strongest sales month in any given year; however, 2021 results bucked this trend, with May sales below the 15,646 deals reported in March.

“There has been strong demand for ownership housing in all parts of the GTA for both ground-oriented home types and condominium apartments. This was fueled by confidence in economic recovery and low borrowing costs. However, in the absence of a normal pace of population growth, we saw a pullback in sales over the past two months relative to the March peak,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite Benchmark was up by close to 19 per cent year-over-year in May 2021. The average selling price across all home types was up by 28.4 per cent year-over-year, reaching a record $1,108,453. On a seasonally adjusted basis, the average price increased by 1.1 per cent between April and May 2021.

☎Call416-999-6975 If you are planning to buy or sell 🏠.

Ishtiaq Ahmed
Broker
Century 21 Innovative Realty Inc. Brokerage
www.iwillsell.ca