Toronto Real Estate Market Peaked In April
Lovely 1.5 Storey 3-bedroom Near Jane & Wilson
As predicted last month, the May preliminary sales numbers show that we’ll have approx 9,330 Toronto houses and condos sales for the month.
This is the lowest number of sales for the month of May since 2005… remember the 11,146 sales we had in May of 2007?
The listing inventory climbed about 13% to 25,490 homes available in May on the MLS market. The market-predicting ratio of sales-to-listings dropped to a more reasonable 36.6% – down from almost 56% in the month of March.
It’s still a ’seller’s market’ (anything above 28%), but it’s certainly not as strong as it was earlier this year and during much of 2009, with many more listing choices available for a buyer. A neutral market is between 24-28%!
Keep watching this blog for the full May Toronto Real Estate Report coming out shortly!
Toronto Real Estate Market Peaked In April is a post from: Toronto Real Estate Updates