TRREB said 9,012 home sales were reported through its MLS system last month – an increase of 24.7 per cent from the 7,226 sold a year ago.
Numbers released by TRREB on Friday show the average price of a home reached $1,196,101 in May compared with $1,153,269 recorded the prior month. Although, last month's figure was down 1.2 per cent from $1,210,372 the same time the previous year.
Meanwhile, 15,194 new properties were put on sale in May – down by 18.7 per cent over the same period. In May 2022, there were 18 687 new listings. "In addition, strong rent growth and record population growth on the back of immigration has also supported increased home sales. The supply of listings hasn't kept up with sales, so we have seen upward pressure on selling prices during the spring."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Average home price in GTA ticked up in May as demand continues to outpace supply: TRREBThe average selling price of a home in the Greater Toronto Area ticked up again last month as supply continues to lag behind growing demand, the Toronto Regional Real Estate Board says.
Read more »
Toronto police arrest man accused of carrying out 2 home invasions in GTAToronto police say they have arrested a man suspected of carrying out two home invasions in the GTA, including one in the city’s Moss Park neighbourhood.
Read more »
Toronto police arrest man accused of carrying out 2 home invasions in GTAToronto police say they have arrested a man suspected of carrying out two home invasions in the GTA, including one in the city’s Moss Park neighbourhood.
Read more »
Toronto mayoral candidates square off in debate co-hosted by Toronto Star, United Way, TMUThe leading candidates in the Toronto mayoral race are squaring off in a debate hosted by United Way Greater Toronto, The Toronto Star and Toronto Metropolitan University. We’ll be bringing you live updates here as the candidates face off.
Read more »
Toronto mayoral candidates square off in debate co-hosted by Toronto Star, United Way, TMUThe leading candidates in the Toronto mayoral race are squaring off in a debate hosted by United Way Greater Toronto, The Toronto Star and Toronto Metropolitan University. We’ll be bringing you live updates here as the candidates face off.
Read more »