June 5, 2019 / 9:00 AM / 6 months ago

TABLE-Toronto May home sales outstrip listings in sellers' market

    TORONTO, JUNE 5 (Reuters) - Home sales in Toronto jumped
19% in May from a 15-year-low set a year ago, but the number
of transactions is still below the average for the month over
the previous 10 years, data from the Toronto Real Estate
Board (TREB) released Wednesday showed. 
    The average home price rose 3.6%, while the number of
listings increased less than 1% from a year ago. 
    "After a sluggish start to 2019, the second quarter
appears to be reflecting a positive shift in consumer
sentiment toward ownership housing," TREB President Garry
Bhaura said in the release. But with sales growth
outstripping listings, "market conditions continued to
tighten in favor of sellers," he added.
    
                   MAY        APRIL      MAY 2018   YR/YR PCT
                                                     CHANGE
 TOTAL SALES      9,989       9,042       8,402        19%
                                                    
 AVERAGE PRICE  C$838,540   C$820,148   C$809,305     3.6%
 NEW LISTINGS     19,386      17,205      19,237      0.8%
 After preliminary seasonal adjustment
                   MAY       MTH/MTH PCT
                               CHANGE
 SALES            7,442         5.2%
 AVERAGE PRICE  C$795,232       2.8%
 Sales by type of property
                           MAY          YR/YR PCT
                                         CHANGE
 DETACHED                 4,649           25.1%
 SEMI-DETACHED            1,019           27.9%
 TOWNHOUSE                1,656           22.8%
 CONDO APARTMENT          2,542           6.4%
 Average price by type of property   
                           MAY          YR/YR PCT
                                          CHANGE
 DETACHED              C$1,042,218         1.1%
 SEMI-DETACHED          C$827,250          1.9%
 TOWNHOUSE              C$665,967          3.2%
 CONDO APARTMENT        C$590,876          4.9%
 
 (Reporting by Nichola Saminather in Toronto;
Editing by Leslie Adler)
  
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