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Toronto and West GTA Real Estate Market Update – May 2023

Jun 27, 2023 | Burlington

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for May 2022 vs. 2023 home sales in Toronto, Mississauga, Oakville, Burlington

Supply of listings not up to par with sales, resulting in 𝐮𝐩𝐰𝐚𝐫𝐝𝐬 𝐩𝐫𝐞𝐬𝐬𝐮𝐫𝐞 𝐨𝐧 𝐬𝐞𝐥𝐥𝐢𝐧𝐠 𝐩𝐫𝐢𝐜𝐞𝐬 𝐭𝐡𝐢𝐬 𝐬𝐩𝐫𝐢𝐧𝐠. We don’t have enough inventory to support sales activity, contributing a Seller’s market in some areas.

Note that we were still trending high last May in some areas of the GTA as the decline in the market was distinct from June 2022 onwards.

The home types that are up this year are a distinct sign of the impact the lack of supply has had for May 2023 sales activity, and that Buyer confidence has resumed despite the increased cost of borrowing.

The MLS® Home Price Index (HPI) composite benchmark for all of the GTA was down by 6.9% in May 2023, however up by 3.2% cent on a seasonally adjusted monthly basis compared to April 2023.

Be sure to view the full details of each area within our update. Swipe on each image to view.

𝗪𝗮𝗻𝘁 𝘁𝗼 𝗸𝗻𝗼𝘄 𝘄𝗵𝗮𝘁’𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗻𝗲𝗶𝗴𝗵𝗯𝗼𝘂𝗿𝗵𝗼𝗼𝗱? Obtain a personalized market analysis by booking a complimentary Buyer or Seller consultation with us via the contact details below.

Toronto Real Estate Marketing Report Update May 2023 Mississauga Real Estate Marketing Report Update May 2023 Oakville Real Estate Marketing Report Update May 2023 Burlington Real Estate Marketing Report Update May 2023

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