Monthly Resale Housing Market Figures - May 2018

  • Home
  • Monthly Resale Housing Market Figures - May 2018

Monthly Resale Housing Market Figures - May 2018

  • date 2018-06-11 |
  • by Homelife Galaxy |


There were 7,834 sales reported through TREB's MLS system by Greater Toronto Area realtors in May 2018. This figure represents a decline of 22.2 per cent in comparison to May 2017. In May 2017, there were 10,066 home sales reported by Greater Toronto Area realtors.

New listings were down by 26.2 per cent last month. Recent polling conducted by Ipsos on behalf of Toronto Real Estate Board suggests that listing intentions are down significantly since the fall season. The supply of homes continues to be an issue.

Toronto Real Estate Board president Tim Syrianos stated that home ownership continues to be a solid long-term investment however, many home buyers are still having a difficult time finding a home that meets their needs. He mentioned that policy makers need to focus more on home types that bridge the gap between detached homes and condo units.

The average selling price for all home types combined was $805,320 last month. This figure represents a 6.6 per cent decrease on a year-over-year basis.  The average selling price for all home types combined in March 2017 was $862,149.  The MLS Home Price Index (HPI) Composite Benchmark decreased by 5.4 in May 2018 on a year-over-year basis.

Reference:

Toronto Real Estate Board

Galaxy Tools