May 2019 was a busy month for sales. The number of sales reported was 9,989, up 18.9% from the same time last year.
A large population of the city continues to see home ownership in the GTA as a quality long-term investment. Population growth from immigration remains strong and the regional economy continues to create jobs across many sectors of the economy.
The average selling price for all home types combined was up by 3.6 percent to $838,540.
Price growth was again driven by the condominium apartment and townhouse market segments. The average price of a condo in Toronto is $642,891, up 6.6%. In York Region, the average price is $478,230, up 4.9%.
To put that last number into perspective, the average 2 bedroom, 2 bathroom condo or townhouse in North York will start at $420,000 and could go as high as $900,000.
Subscribe to my Newsletter!
Once a month, I’ll send you a round-up of my most popular articles and advice that will make sure you’re prepared when you decide to buy, sell or rent.