Toronto Home Sales Growth Continues
12,870 home sales were reported through TREB’s MLS® System in May 2016 – a new record for the month of May and a 10.6 per cent increase over the same period last year.
In contrast, the number of new listings was down over the same time frame by 6.4 per cent.
While the record number of home sales through the first five months of 2016 is not necessarily surprising, it masks the larger story in the GTA: the shortage of listings, which has resulted in strong upward pressure on home prices.
Tighter market conditions for condominium apartments have resulted in price growth well above the rate of inflation in this market segment.
All statistical information sourced from the Toronto Real Estate Board’s MLS system
For more in-depth information on local real estate trends, contact Jethro Seymour, Broker at Johnston & Daniel, a division of Royal LePage R.E.S. Ltd (Phone: 416-712-0767, Email: Jethro[at]SeymourRealEstate [dot com], or visit Jethro’s website at www.SeymourRealEstate.com. Jethro Seymour is a midtown Toronto residential specialist with over 20 years of sales experience in real estate, marketing, construction and publishing. He has helped many families find homes in Toronto’s great neighbourhoods, and has extensive knowledge of local markets, new home construction, resale home sales, and the condo market. Living in midtown Toronto, Jethro previews many of the homes that come to market for his clients and inventory knowledge. Jethro specializes in the Davisville Village and Leaside neighbourhoods.
Jethro Seymour, one of the best Midtown Toronto Agents at Royal LePage RES Ltd., Johnston & Daniel Division. #SeymourRealEstate
