Toronto average home price increased in May 2023

Toronto average home price increased in May 2023

Toronto average home price increased in May 2023

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Toronto average home price increased in May 2023!

Freehold Market

The freehold houses' average price, was up 3.9% from the previous month, up 2.2% from the same month last year. The average time to sell this type of home is around 12.5 Days. The current month of inventory of freehold houses in Toronto is about 1.3. Therefore, this segment of housing is currently in a Strong Seller's Market.

Condo Market

The condo market is a Seller's Market. It takes an average of 19 days to sell a condo unit in Toronto. The average price was up 3.9% from the previous month, unchanged v.s. same month previous year. The new listings were up 16.3% from the previous month, and down 11.1% from the same month last year.

Condo market at downtown Core

Condos average price at downtown east of University of Toronto was unchanged v.s. last month, down 5.9% from the same month last year. The average time to sell a condo in Bay Street and Church-Yonge Corridor is around 17.1 Days. The current month of inventory is about 2.5. The condo market in this area is currently in a Balanced Market.

If you plan to move to Toronto or you want to learn more about real estate investment opportunities in Toronto, please contact Toronto real estate agent Realtor Alan Zheng at 647-877-9311.