Real Estate Market in Review – May 2023: Sales continue to rise, yet supply is not keeping up to demand. Year-over-year, sales were up +22.6 per cent and New Listings were down -16.6 per cent. This is bringing increasing competition among buyers, causing prices to continue their upward shift across all segments in the City of Toronto. Between April and May, prices increased 5.5 per cent for detached homes, 5.5 per cent for semi-detached homes and 4.4 per cent for condos.
Right now is a good time to know where you stand, and plan for what’s next. To achieve your financial and lifestyle goals in real estate, It’s essential to consider the data on key factors such as home type and neighbourhood. Get in touch with me to ensure you are able to access the opportunities and results you’re looking for.
Here’s a look at the May numbers:
