May GTA Housing Data

By Elli Davis, June 16, 2011

Are you curious about the current housing situation in the Greater Toronto Area? Here is some hot news! According to Greater Toronto Realtors, 10,046 homes were sold in the GTA last month. Compared to the 9,470 sales reported in May 2010, this is a six per cent increase.

Paper houses by mike wilson

Amazingly enough, May 2011 was actually the second most successful May on record. Furthermore, this past month is the very first month of this year in which a year-to-year increase was seen. Not only sales went up, however. The average price of a property was $485,520, up nine per cent from the $446,593 recorded in May 2010. The median price increased, too — from $376,750 in May 2010 to $400,000 in May 2011.

Overall, I have to say that the housing situation has been pretty amazing in the GTA this year so far. We had a really strong spring and although we might have been a little spoiled, I am hoping the rest of 2011 will also be great.

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