It was another strong month for Toronto Real Estate, but remained slightly below the peak realized this past March. Despite the off-peak sales numbers, the market conditions remained tight enough to pushed the average selling price in May to $1,116,736 – an all time record. Competition for the current housing inventory has strengthened resulting in upward widespread pressure on prices across all market segments, including condominiums.
Selling prices for all major home types remained strong with pricing with increases in average selling prices for detached houses [+21%], semi-detached houses [+16%], townhouses [+19%], and condos [+6%] vs. May 2020.
Looking to buy or sell a home in Toronto? Average prices in April were as follows:
➕ Condo $716,976