Homebuyers in the GTA are showing no signs of slowing down, with limited listings and high demand continuing to push average home prices back up. TheReal_TRREB | realestatenews Toronto GTA housingmarket homeprices
This was fulled by the 9,012 sales that took place last month — a sizeable jump of 24.7% year over year — as new listings, although up 33% from April’s 11,364, were still down 18.7% compared to the same time last year.
Unlike in April, May saw Toronto hold a higher average selling price than the rest of the GTA, coming in at $1,197,021. This was led by pricy detached homes, which saw their Toronto sales jump by more than 200 compared to April. As demand keeps climbing, and supply clearly isn’t keeping up, TRREB President Paul Baron underscored the necessity of governments taking action against the growing unaffordability of housing.
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