The Nikolay and Tatiana Team Presents The Toronto and Newmarket Real Estate Market Update May 2018
The Toronto Real E
state Board (TREB) reports that May housing sales in the Greater Toronto Area were down 22.2 per compared to May of last year.
While the number of sales was down year-over-year, the annual rate of decline was
less than reported in February, March and April, when sales were down by more than 30 per
cent. On a month-over-month basis, seasonally adjusted May sales were basically flat compared
to April.
The average selling price for all home types combined was down by 6.6 per cent to
$805,320. On a seasonally adjusted basis, the average selling price was up by 1.1 per cent
compared to April 2018.
Jason Mercer, the board’s director of market analysis, said market conditions are becoming tighter in the GTA and this will provide support for home prices through the second half of 2018 and into 2019.
“There are emerging indicators pointing toward increased competition between buyers, which generally leads to stronger price growth,” Mercer said in a statement.
“In the City of Toronto, for example, average selling prices were at or above average listing prices for all major home types in May.”
Now, Tatiana will briefly highlight what has happened in Newmarket Real Estate Market in May 2018.
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REAL ESTATE UPDATE FROM TATIANA KLYUSHKINA
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