Market Stats Template: Market Stats: City Month Year by Sara Hassan July 23, 2020July 23, 2020 July 23, 2020July 23, 2020 Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s 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. On a month-over-month basis, actual and seasonally adjusted May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2 percent compared to April 2020. After accounting for the regular seasonal increase that is experienced each year between April and May, seasonally adjusted sales were up by 53.2 percent month-over-month. The number of new listings entered into TRREB’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 MLS® Home Price Index Composite Benchmark price was virtually unchanged in May 2020 compared to April 2020. On a year-over-year basis, the composite benchmark was up by 9.4 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 April 2020. The difference in year-over-year growth between the MLS® HPI Composite Benchmark and the average selling price was related to the fact that home sales in the City of Toronto, particularly in the detached segment, were down by a greater annual rate than overall sales in the GTA. This resulted in a compositional impact on the overall average selling price. Bank of CanadaCondo InvestmentDowntown Toronto condosGTA Condo BuyersGTA housing markethome buyersHousing Affordabilityhousing marketMortgage newsMortgage RateNew condosNew Condos Developmentsreal estate in torontoreal estate market About Nest and Castle Nest & Castle Inc is a leading edge real estate brokerage based in the heart of the Greater Toronto Area (GTA). We provide creative solutions and strategic advice on all aspects of the real estate industry. Our mix of conventional real estate techniques and forward-thinking technologies makes the buying or selling of your home, an easy and enjoyable experience. Search Exclusive New Developments Looking for your Dream Home? Sell Smarter With Data. It's The Future. 0 comment previous post What is an Assignment? Pre-construction Condos next post Canada Building Permits Rise for 2nd Month You may also like Canada Building Permits Unexpectedly Surge 6% MoM February 6, 2019 Canada Housing Starts Fall More than Expected November 15, 2019 Canada Building Permits Post Biggest Gain in 12... June 15, 2019 Canada Housing Starts Rise Less than Expected November 25, 2020 Did you know that VAUGHAN is a Seller’s... October 13, 2020 Vaughan Townhouse Prices up 15.81% December 5, 2020 THE MISSISSAUGA MARKET IS HOLDING STABLE. October 13, 2020 Canada Building Permits Fall 2.4% MoM in November January 3, 2020 Canada Housing Starts Drop More than Expected October 15, 2020