May 2017 Market statistics

The last couple of months in the Toronto real estate market have been a ride! The new Provincial legislation introduced last month definitely had the desired effect of cooling the market. And for most people, it's quite welcomed. 

In a nutshell - our inventory is up, our sales volume is down and prices are both up and down - depending how you look at it. Across the board, the prices across the GTA are up 15 per cent from last year at this time. But they are down 6 per cent from April 2017. 

So what does this mean for the average person? What will happen next? Like I always say - nobody has a crystal ball and most of the "experts" are never right in predicting what's next. But I definitely think right now is still a strong market for both buyers and sellers. 

Certainly on the buying side, I've been fortunate to have helped some of my clients negotiate some great deals in the last couple of weeks. 

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