TORONTO, JUNE 3, 2010 ‐ Greater Toronto REALTORS® reported 9,470 sales through the
Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In
comparison to previous years, this was the third highest May sales result on record.
“The pace of transactions slowed in May following record‐setting sales in February, March and
April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would
have been purchasing a home in May moved more quickly this year, likely to get ahead of
mortgage rate hikes.”
New listings were up 38 per cent annually to 18,940. The average price for May transactions
was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.
“The gap between listings and sales has widened, which means there is more choice for
buyers,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of
price growth will slow in the second half of 2010, from the current double digit pace into the