Market Watch

May Is Best Month Ever!

With 9,434 sales recorded last month, May 2006 has proven to be best month ever recorded in the 86 year history of the Toronto Real Estate Board. The May figure is up over the 2% from May 2005, when 9,209 sales were recorded, and up almost 2% over the previous best ever month June 2004, when 9,275 sales were recorded. The Toronto re-sale market is as healthy as it has ever been.

TREB’s president noted that the average price came in at $365,537 last month, compared to April’s $366,683. The key is that 17,685 new listings came onto

the system in May, which pushed total inventory levels to 26,220 active listings at month-end. Both figures are up considerably over their year ago levels (seven and five percent, respectively), and this is keeping price inflation to a reasonable level.

Brampton

Brampton/Bramalea has seen 3,296 sales during 2006, up marginally from the 3,292 recorded to the same time last year. The majority of re-sales in this area were detached (1837) and semi-detached (731) houses. The average for a detached was $341,585, a seven per cent increase over 2005; the average for semis was $265,103,up five per cent over 2005