Market Watch - May 2018

May 2018 Home Sale and Price data are out!

GTA                                       May 2018                             May 2017                             Change

Sales                                      7,834                                     10,066                                   -22.2%

Average Price                    $805,320                              $862,149                              -6.6%

Data from the Toronto Real Estate Board showed the number of new listings were down by 22.2% compared to May 2017.

The average selling price for all home types was down by 6.6% to $805,320.  On a seasonally adjusted basis, the average selling price was up by 1.1% compared to April 2018.

Average Sale price data for May 2018 for Oakville and Burlington:

Houses                                 Oakville                               Burlington

Detached                            $1,321,709                           $1,000,451

Semi-detached                 $758,231                              $608,970

Townhouses                      $837,187                              $639,120

Condo Townhouses        $530.365                              $523,276

Condo Apartments         $528,031                              $456,263

Mortgage rates in April 2018:

1 yr         3.49%

3 yr         4.30%

5 yr         5.34%   

Source: Toronto Real Estate Board   

Here is a video with Jason Mercer, Director of Market Analysis at TREB, discusses the Market Watch Report for May 2018.

http://communications3.torontomls.net/video_centre/featured_video1.html