Market conditions in the Greater Toronto Area (GTA) improved in the month of May as everyone continues adjusting to the new normal. The number of sales was down by 53.7% on a year-over-year basis, but up 55.2% compared to April 2020. Average selling prices were up 3% on a year-over-year basis and up 4.6% compared to April 2020.
As always, if you are thinking about buying, selling, or investing in real estate at this time you should seek the professional advice of a REALTOR®️. Please feel free to contact me by email or at 416-453-7143 for advice on navigating the current market.
Toronto Real Estate Board (TREB) Market Watch Report
Below is a market snapshot of single family detached and condominium apartment price growth by municipality as of May 31, 2020.
The figures cited in this note are an average. Please contact me for neighbourhood specific information so you can make an informed decision if you are thinking about making a move.
If you want to know how prices are performing by asset class in your specific neighbourhood or any neighbourhood in the GTA you may be interested in, please click here.
Are you thinking about selling your home? Click here to request a free property assessment and go to market strategy.
Are you on Facebook? Like my Facebook Page for real estate updates.
Are you a real estate investor? Join my private real estate investors group on Facebook where you can access listings, resources, tools, and other investors.
Are you interested in receiving bank sale homes, estate sales, fixer uppers, commercial investment or multifamily investment properties? Contact me here to request these types of properties.
Single Family Detached Home Price Index
Toronto: +0.07% (1 Month), +3.15% (3 Month), +6.01% (6 Month), +7.57% (1 Year)
Mississauga: -1.29% (1 Month), +1.69% (3 Month), +6.88% (6 Month), +7.97% (1 Year)
Brampton: -0.15% (1 Month), +1.45% (3 Month), +7.29% (6 Month), +9.74% (1 Year)
Vaughan: +0.30% (1 Month), +3.57% (3 Month), +6.84% (6 Month), +8.38% (1 Year)
Richmond Hill: +1.88% (1 Month), +5.78% (3 Month), +7.14% (6 Month), +8.53% (1 Year)
Markham: +1.45% (1 Month), +5.28% (3 Month), +7.27% (6 Month), +8.62% (1 Year)
Condominium Apartment Home Price Index
Toronto: -0.36% (1 Month), +3.50% (3 Month), +7.55% (6 Month), +11.41% (1 Year)
Mississauga: +0.58% (1 Month), +4.52% (3 Month), +9.55% (6 Month), +16.06% (1 Year)
Brampton: +1.30% (1 Month), +7.22% (3 Month), +10.09% (6 Month), +21.13% (1 Year)
Vaughan: +0.04% (1 Month), +2.52% (3 Month), +7.51% (6 Month), +9.14% (1 Year)
Richmond Hill: +0.31% (1 Month), +5.48% (3 Month), +9.14% (6 Month), +11.55% (1 Year)
Markham: +0.88% (1 Month), +4.91% (3 Month), +10.80% (6 Month), +16.03% (1 Year)
*How to use these numbers: If on May 1, 2020 the value of a detached home in Toronto was $1,000,000, it would be worth $1,003,600 on May 31, 2020 based on the Toronto home price index (HPI). That $1,000,000 home appreciated $3,600 in May or $116 per day.
Prepared by Michael De Luca, Real Estate Sales Representative at Private Service Realty (PSR), Brokerage
Post a comment