Real Estate Market Update for May 2021
🏡With the market changing so quickly these days, it’s hard to make sense of all the headlines. Here are the straight goods for May 2021 on the Toronto Real Estate Board…
🏡Market conditions remained strong, and the average selling price was pushed up higher again in May.
🏡May 2021 saw a 1.1% increase in the average selling price from the previous month, April 2021, and…
🏡May 2021 saw a 28.4% increase in the average selling price (all home times) from the previous YEAR (Since May 2020).
🏡However, the total number of home sales for May 2021 was 11,951, down from the reported # of sales for March 2021 (which was 15,646).
🏡However, it still means there is a strong demand for home ownership throughout all parts of the GTA.
🏡This is fuelled by confidence in the economic recovery & low borrowing costs.
*Source: TRREB Market Update Report