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Removing normal seasonal variations allows for more meaningful analysis of monthly changes and underlying trends.
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Source: Toronto Regional Real Estate Board CREA Seasonal Adjustmentġ Preliminary seasonal adjustment undertaken by the Canadian Real Estate Association (CREA). Seasonally Adjusted TRREB MLS® Sales and Average Price 1 Source: Toronto Regional Real Estate BoardġSouth Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth May 2021 Year-Over-Year Per Cent Change in the MLS® HPI TRREB MLS® System Sales & Average Price by Home Type May 1–31, 2021 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. This was fueled by confidence in economic recovery and low borrowing costs. “There has been strong demand for ownership housing in all parts of the GTA for both ground-oriented home types and condominium apartments. 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. 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.
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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. 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. TORONTO, J(GLOBE NEWSWIRE) - 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.