Toronto real estate market

Toronto home sales see huge increase since same time last year

Toronto’s real estate market is shifting according to the latest stats from the Toronto Real Estate Board.

In May, 9,989 homes were sold, which is nearly 18.9 per cent higher than May last year, when the market was at its lowest in 15 years.

Meanwhile, the number of listings barely rose. There was 19,386 houses put on the market, which was only a 0.8 per cent increase.

The market's health is improving, but it is still below the average number of home sales in May over the last decade, which is almost 10,300.

"After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing,” TREB president Garry Bhaura said yesterday.

The average selling price was up by 3.6 per cent at $838,540. The majority of this growth was rooted in the condominium, apartment and townhouse markets.

Lead photo by

145 Madison Avenue


Join the conversation Load comments

Latest in Real Estate

Here's what the controversial new condo coming to the Scarborough Bluffs looks like

There's a log cabin in Ontario on sale for $4 million

This Toronto house is only $500K but it smells so bad you can't go inside

This $14 million mansion in Mississauga looks like something out of a fairy tale

5 new condo developments that might convince you to move to Hamilton

The cost to rent a Toronto apartment is going up again but it's falling in the suburbs

This is what a $20K a month penthouse apartment looks like in Toronto

Toronto condo prices have risen by 44% since 2017's housing peak