By The Numbers 

The Toronto Real Estate Boards statistics year over year for the month of May. 

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11,951

TREB Sales 

May  2021

4,594

TREB Sales 

May 2020

$1,108,453

TREB Average 

May 2021

$863,563

TREB Average Price May 2020

May Numbers 2021

  • Number of Sales 2021
    11,951 | +160.1%
  • Number of Sales 2020
    4,594
  • Number of New Listing 2021
    18,586 | +103.7%
  • Number of New Listings 2020
    9,126
  • Number of Active Listing 2021
    12,253 | 7.0%
  • Number of Active Listings 2020
    11,448
  • Average Price 2021
    $1,108,453| +28.4%
  • Average Price 2020
    $863,563
  • Average Days on the Market (DOM) 2021
    11 Days | -54.2%
  • Average Days on the Market (DOM) 2020
    24 Days

TREB Market Summary

Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and were below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.

Greater Toronto Area REALTORS® reported 11,951 sales in May 2021 – more than double the result from May 2020, the second full month of the pandemic. May 2021 sales were below the May 2016 record of 12,789 but remained well above the average May sales of 10,336 for the 2010 through 2019 period. Often, May is the strongest sales month in any given year; however, 2021 results bucked this trend, with May sales below the 15,646 deals reported in March.

“There has been strong demand for ownership housing in all parts of the GTA for both ground-oriented home types and condominium apartments. This was fueled by confidence in economic recovery and low borrowing costs. However, in the absence of a normal pace of population growth, we saw a pullback in sales over the past two months relative to the March peak,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite Benchmark was up by close to 19 percent year-over-year in May 2021. The average selling price across all home types was up by 28.4 percent year-over-year, reaching a record $1,108,453. On a seasonally adjusted basis, the average price increased by 1.1 percent between April and May 2021.

“While sales have trended off the March 2021 peak, so too have new listings. This means that people actively looking to purchase a home continue to face a lot of competition from other buyers, which results in very strong upward pressure on selling prices. This competition is becoming more widespread with tighter market conditions in the condominium apartment segment as well,” said TRREB Chief Market Analyst Jason Mercer.

Breaking Down The Numbers

Sales Numbers, average price  percentage changes over the same time last year.

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Detached

$1,415,698 | +37.0%

5,718 | +150.9%

Townhouse

$866,349 | +26.2%

2,182 | +168.7%

Semi Det. 

$1,064,361 | +22.6%

1,233 | +167.5%

Condo Apt.

$682,280 | +9.1%

2,710 | +170.7%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    1,255 | +191.2%.
  • 905 - Detached
    4,463 | +141.5%
  • 416 - Semi Detached
    447 | +172.6%
  • 905 - Semi Detached
    786 | +164.6%
  • 416 - Townhouse
    512 | +212.2%
  • 905 - Townhouse
    1,670 | +157.7%.
  • 416 - Condos
    1,881 | +159.1%
  • 905 - Condos
    829 | +201.5%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,716,272 | +20.5%
  • 905 - Detached
    $1,331,176| +41.3%
  • 416 - Semi Detached
    $1,326,153 | +16.0%
  • 905 - Semi Detached
    $915,479 | +27.8%
  • 416 - Townhouse
    $945,893 | +19.0%
  • 905 - Townhouse
    $841,962 | +27.7%
  • 416 - Condo
    $716,976 | +6.3%
  • 905 - Condo
    $603,555 | +21.4%

Economic Indicators

  • Real GDP Growth | Q4 - 2020
    Down | +5.7%
  • Toronto Employment Growth | April 2021
    Up | +2.2%
  • Inflation Rate (Yr/Yr CPI Growth) | April 2021
    Up | 3.4%
  • Toronto Unemployment Rate | April 2021
    Down | 9.5%
  • Bank of Canada Overnight Rate | May 2021
    Unchanged | 0.25%
  • Prime Rate | May 2021
    Unchanged | 2.45%
  • Mortgage Rates May 2021 (1yr/3Yr|5Yr)
    2.79% | 3.49% | 4.79%
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