President's Award 2016, 2017 2018, 2019
TORONTO, ONTARIO, June 3, 2020 – Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by -53.7% compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1% year-over-year decline reported for April 2020. On a month-over-month basis, actual and seasonally adjusted May sales were up substantially compared to April.
Actual May 2020 sales increased by +55.2% compared to April 2020. After accounting for the regular seasonal increase that is experienced each year between April and May, seasonally adjusted sales were up by +53.2% month-over-month. The number of new listings entered into TRREB’s MLS® System in May was down by a similar annual rate to that of sales, dipping by -53.1% to 9,104. On a month-over-month basis, actual new listings were up by +47.5%.
The MLS® Home Price Index Composite Benchmark price was virtually unchanged in May 2020 compared to April 2020. On a year-over-year basis, the composite benchmark was up by +9.4%. The average selling price for all home types combined was up by +3% compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by +4.6% month-over-month compared April 2020. The difference in year-over-year growth between the MLS® HPI Composite Benchmark and the average selling price was related to the fact that home sales in the City of Toronto, particularly in the detached segment, were down by a greater annual rate than overall sales in the GTA. This resulted in a compositional impact on the overall average selling price
As a realtor, it is our fiduciary duty to protect the interests of my clients. One of which that I often do is to find out the possible grow-op history of the house that my clients are interested to purchase. This is by far one of the biggest concerns that most home buyers have. I want to share the below links with you to help you to identify a grow-op and the locations of those published grow-op online. If you like the info., please share with your friends and families.
As a realtor, we may refuse to answer this question because it is difficult to fulfill the answers for different buyers. But we must be fair, honest and maintain our intergrity if we choose to answer the concern from buyers. Click here to find out how we can help to address your concerns.