With 8,042 sales recorded last month, the Toronto Real Estate Board had its best May ever (up 7% from May 2001), and breached the 8,000 sales level for only the second time in its 82 year history, TREB President David Pearce announced today. The President also noted that prices climbed in May to $278,323, a marginal increase over last Month’s $277,664, and a 9% increase over the $255,460 recorded in May 2001.

“The first five months of 2002 have been outstanding,” the President said, “On a year-over-year basis, our total sales figure of 35,560 is up 28% from the same time in 2001, which was our best year ever for sales.”

Breaking down the total, 3,082 sales were reported in TREB’s 28 West districts and averaged $254,530; 1,254 sales were reported in the 14 Central districts and averaged $389,231; 1,686 sales were reported in the 23 North districts and averaged $299,595; and 2,020 sales were reported in TREB’s 21 East districts and averaged $228,021.

Click to view Residential Market Update – May 2002