Market Update – May 2022

On in So How's the Market in Toronto by

Central Toronto REALTORS® reported 279 detached home sales through the Toronto MLS® in May 2022; and on average, these detached homes sold for $2,665,414.

Last year, in May 2021, Toronto MLS® reported 463 freehold detached home sales across Toronto – which is a 40% decrease in volume for this year. It was also reported that on average, freehold detached homes sold for $2,294,460 in May 2021 and that’s a 16% increase in sale prices for this May.

With respect to semi-detached homes… Central Toronto REALTORS® reported 256 semi-detached home sales in May 2022; and on average, these semi-detached homes sold for $1,561,616 last month.

That compares to 364 semi-detached home sales in May 2021 – which is a 30% decrease in volume for this year. But again, it was also reported that on average, semi-detached homes sold for $1,513,269 in May 2021 and that’s an 3% increase in sale prices for this May.

With respect to condo sales, Central Toronto REALTORS® reported 762 condo sales in May 2022; and on average, these condos sold for $865,268 last month.

In May 2021, there were 1201 condo sales – which is a 37% decrease in volume for this year. On average, these condos sold for $808,458 and that’s a 7% increase in sale prices for this May!

 

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