Template: Market Stats: City Month Year

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.