Toronto Real Estate Board Members reported 6,296 sales in May, the best figure ever recorded for that month, TREB President Bill Palander said today. During the same period the average price of houses declined marginally, from the $233,053 recorded in April to $231,908.

“Though both prices and volume fell slightly in May (sales were down 5% from the 6,594 recorded in April), this is natural for the time of year, and we expect to see a further easing as the weather heats up. Nevertheless, a record result for May indicates an unusually active summer market.”

Breaking down the total 2,388 sales were reported in TREB’s 28 West districts and averaged $213,787; 954 sales were reported in the 14 Central districts and averaged $347,310; 1,198 sales were reported in the 23 North districts and averaged $246,640; and 1,756 sales were reported in TREB’s 21 East districts and averaged $183,806.

Click to view Residential Market Update – May 1999