TRREB May Resale Housing Market Report: Toronto Sales Down, Prices Up Accross the Board
Sunday Jun 07th, 2020
Home Sales and Listings:
Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7% compared to May 2019.
On a month-over-month basis, May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2% compared to April 2020.
The number of new listings in May was down by a similar annual rate to that of sales, dipping by 53.1% to 9,104.
On a month-over-month basis, actual new listings were up by 47.5%.
The average selling price for all home types combined was up by 3% compared to May 2019 to $863,599.
Detached Semi-Detached Townhouse Condo Apartment
Sales 2,683 787 969 4,853
Yr./Yr. % Change -25.8% -32.3% -25.4% -26.2%
Avg. Price $1,424,412.00 $1,137,429.00 $815,526.00 $693,282.00
Yr./Yr. % Change +7.5% +8.5% +5.9% +11.5%
Condominium Apartment Rental Market
One-bedroom and two-bedroom condominium apartment rental transactions were lower in May 2020 compared to May 2019. The number of one-bedroom rentals was down by 30.8% to 1,290. The number of two-bedroom rentals was down by 26.7% to 820.
The average one-bedroom rent was $2,086 in May 2020 – down by 5.1 per cent compared to May 2019.
The average two-bedroom rent was $2,740 in May 2020 – down by 5.6 per cent compared to May 2019.
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