30.7 C
New York
July 13, 2020
Worship Media
Business

Toronto home sales in May up from April, but less than half than a year ago

TORONTO — The Toronto Regional Real Estate Board says home sales in the region improved in May compared with April, but remained less than half of what they were a year ago due to the pandemic.

The board says there were 4,606 sales in the Greater Toronto Area through its MLS system in May, down 53.7 per cent compared with a year earlier.

However, sales in May were up 55.2 per cent compared with April.

The average selling price was $863,599, up three per cent compared to May 2019.

The number of new listings totalled 9,104, down 53.1 per cent compared with year ago, but up 47.5 per cent on a month-over-month basis.

Board president Michael Collins says that if the gradual re-opening of the economy continues, it is possible that home sales will continue to improve in the coming months.

This report by The Canadian Press was first published June 3, 2020.

Click Here to Visit Orignal Source of Article https://toronto.ctvnews.ca/toronto-home-sales-in-may-up-from-april-but-less-than-half-than-a-year-ago-1.4967061

Related posts

U.S. stocks rally on hopes for vaccine and economic recovery

CTV News

Two men accused of helping ex-Nissan boss escape from Japan

CTV News

Judge temporarily blocks law aimed at Trump’s tax returns

CTV News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy