In the GTA, May home sales remained slower than average, however in the wake of an interest rate decrease, an increase in sales activity is on the horizon for the second half of 2024. While sales were subdued, prices were once again resilient. The average selling price of $1,165,691 was down by 2.5% over the May 2023 result of $1,195,409. On a seasonally adjusted monthly basis, the average selling price edged up slightly compared to April 2024.
For more details on the May 2024 monthly analysis and the latest Royal LePage Market Update Report, please visit this month’s edition of our Real Estate Facts & Figures here.