GTA sales increase despite supply shortage

Sales of homes in the Greater Toronto Area were up by 6.3 per cent year-over-year, according to the latest data for May.

The Toronto Real Estate Board figures show sales of 11,706 homes in May with all housing types selling more except for detached homes in the City of Toronto. This was due to low supply.

Average selling prices were up 11 per cent year-over-year at $649,599 across all property types.

Across the GTA detached house sales were up three per cent year-over-year and prices were up 14 per cent; semi-detached sales were up 6.8 per cent, prices were up 11.1 per cent; townhouse sales were up 7.5 per cent, prices were up 10.7 per cent; and apartment sales were up 13.2 per cent, prices were up five per cent.

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