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Toronto Real Estate Market Shows Near Promising Results in May 2020
Greater Toronto Area reported 4,606 sales through Toronto Real Estate Board MLS System in May 2020. This result was down by 53.7 percent compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1 percent year-over-year decline reported for April 2020.
Actual May 2020 sales increased by 55.2 percent compared to April 2020.
The number of new listings entered into TREB's MLS System in May was down by a similar annual rate to that of sales, dipping by 53.1 percent to 9,104. On a month-over-month basis, actual new listings were up by 47.5 percent.
The average selling price for all home types combined was up by three percent compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by 4.6 percent month-over-month compared to April 2020.
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Greater Toronto Area reported 4,606 sales through Toronto Real Estate Board MLS System in May 2020. This result was down by 53.7 percent compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1 percent year-over-year decline reported for April 2020.
Actual May 2020 sales increased by 55.2 percent compared to April 2020.
The number of new listings entered into TREB's MLS System in May was down by a similar annual rate to that of sales, dipping by 53.1 percent to 9,104. On a month-over-month basis, actual new listings were up by 47.5 percent.
The average selling price for all home types combined was up by three percent compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by 4.6 percent month-over-month compared to April 2020.