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.

Pricing took an upward turn in the City of Toronto last month, across all segments. Price increases for detached homes and semis were up 4.6% and 5% respectively. Demand is up relative to supply, resulting in greater competition among buyers.

Competition between buyers is on the rise. For the first time in 10 months, the average sale price was above the average list price in the GTA. In addition, sales accounted for an increased share of listings compared to a year ago.

For the City of Toronto, year-over-year sales volume and average selling prices were down by 32.2 per cent and 17.4 per cent respectively. However, it is interesting to note, between January and February new listings rose by 10 per cent, and the average price for the combined categories of detached homes, semis and condo apartments was up 11.2 per cent.