Toronto’s real estate market experiencing mixed signals
Posted June 5, 2013 2:40 pm.
This article is more than 5 years old.
More than 10,000 properties were sold last month across the GTA in a real estate market which is down nearly 3.5 per cent from May of last year.
Sales of single detached homes rose almost one per cent and prices in that segment included a three per cent year-over-year increase. Toronto Real Estate Board President Ann Hannah describes the market as showing improvement over the past two months.
She believes potential home buyers who had delayed their decisions because of mortgage rule changes by the federal government are now becoming active in the market again.
The average selling price for real-estate across the city in May was $542,000, up by 5.4 per cent in a year. Condo sales were weak, down over nine per cent compared to a year ago, but prices rose slightly.
