Column Toronto Real Estate Brokerage Royal LePage RES Ltd/Johnston and Daniel Division Toronto REALTORS® Louise Dodd and Jason Dodd
Column Middle Toronto REALTOR® Louise Dodd Toronto REALTOR® Jason Dodd Toronto Real Estate Services Toronto Real Estate for Sale Previous Toronto Real Estate Sales Toronto Real Estate Information and Other Information

May Real Estate Market

Toronto Real Estate Board May MLS sale statistics:

  • GTA single family home sales including condo townhouses and apartments - 4,606.
  • Volume - down 53.7%, compared to May 2019 9,950 sales.
  • Volume - up 55% compared to April 2020 2,976 sales.
  • Average price of a GTA single family home - $878,449.
  • Up 7.2% from 2019's average price of $819,305.

(The GTA is Burlington to Clarington, Lake Ontario to Lake Scugog)

“With home sales and new listings continuing to trend in unison in May, market conditions remained balanced. This balance was evidenced by year-over-year average price growth slightly above the Bank of Canada’s long-term target for inflation. If current market conditions are sustained during the gradual re- opening of the GTA economy, a moderate pace of year-over-year price growth could continue as we move through the spring and summer months,” said Jason Mercer, TRREB’s Chief Market Analyst.

We track MLS sales daily.

  • November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
  • May 2020 50-85% of properties sold for asking or under.

(Central districts cover the Lake to York Mills, and the Humber River to Victoria Park.)

The May residential resale market was a story of changing markets.

  • The first week of May, saw more buyers entering the market.
  • The $1.5 million and under freehold market was very strong.
  • Throughout May, some homes sold for over asking price in bidding wars or bully offers.
  • Some northern lake properties under $500,000 were receiving 4-5 offers at the same time.
  • The average one bedroom rent was $2,086 - down 5.1 percent compared to May 2019.
  • The average two bedroom rent was $2,740, down 5.6 percent compared to May 2019.

Average Price May 2020
Average Price May 2019
City (416)
$955,273
$936,852
G.T.A. (905)
$819,719
$779,950

Average GTA Prices 1992 to 2019

1992
$214,971
2006
$351,941
1993
$206,490
2007
$376,236
1994
$208,921
2008
$379,347
1995
$203,028
2009
$395,460
1996
$198,150
2010
$431,276
1997
$211,307
2011
$465,014
1998
$216,815
2012
$497,130
1999
$228,372
2013
$522,958
2000
$243,255
2014
$566,624
2001
$251,508
2015
$622,120
2002
$275,231
2016
$729,837
2003
$293,067
2017
$822,572
2004
$315,231
2018
$787,865
2005
$335,907
2019
$819,305
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