Real Estate

GTA real estate May month-end stats

  • Last Updated:
  • Jun 4th, 2021 12:11 pm
[OP]
Deal Addict
Mar 20, 2017
1366 posts
1156 upvotes

GTA real estate May month-end stats

Sales keep going down MOM, but the GTA price reached a new milestone of $1.1M.

5 replies
Deal Fanatic
Jul 3, 2011
6517 posts
3780 upvotes
Thornhill
It's the start of the summer market - sales decline.

Historically, April and May like to compete for the month with claim to the highest price. On an occassion or two within the last couple decades November and December threw a wrench into their plans to take the trophy.

Nonetheless, prices in many sectors already started the summer regression in April, come June, prices will decline further.

If you were to draw a seismographic type map around activity iand price it would be noticed that the outskirts is shrinking inwards but Peel is the epicentre,
Deal Addict
Sep 24, 2006
1049 posts
321 upvotes
Sorry I don't get the analogy. When you say Peel is the epicenter, do you mean it's leading the decline or is it maintaining its price and activity?
licenced wrote: It's the start of the summer market - sales decline.

Historically, April and May like to compete for the month with claim to the highest price. On an occassion or two within the last couple decades November and December threw a wrench into their plans to take the trophy.

Nonetheless, prices in many sectors already started the summer regression in April, come June, prices will decline further.

If you were to draw a seismographic type map around activity iand price it would be noticed that the outskirts is shrinking inwards but Peel is the epicentre,
Deal Addict
User avatar
Mar 30, 2010
3500 posts
1612 upvotes
Greater Toronto Area
hank755 wrote: Sorry I don't get the analogy. When you say Peel is the epicenter, do you mean it's leading the decline or is it maintaining its price and activity?
There's nothing to "get" in that analogy. People here just love to speculate.

Anyone that claims to be able predict where the market is going in 2021 is a liar.

With that said, I can tell you the change in HPI from April to May, and you can judge for yourself.

April 2021
Brampton: 344.2
Caledon: 312.8
Mississauga: 332.6

May 2021
Brampton: 343.1
Caledon: 318.2
Mississauga: 335.5

Now that's just Peel, but Halton, York and Toronto show similar trends with HPI either increasing just slightly or showing no significant change at all.

The only areas where I see a slight dip in HPI are Oshawa, Pickering, Scugog, Uxbridge, Orangeville, Bradford, Essa, Innisfil and New Tecumseth.

Sources:
https://trreb.ca/files/market-stats/hom ... s_0421.pdf
https://trreb.ca/files/market-stats/hom ... s_0521.pdf

I hear there are decreases in the KW area as well, but I don't really keep tabs on what's going on there, so I don't have a source to back that up.

It's tempting to think that areas outside of the GTA are going to take a hit while the GTA itself flatlines, but eh, who knows what's going to happen. It's been a fun ride either way...
RichmondCA wrote: Leading indicator on bear market, when you see this avatar start popping up in this thread
Sr. Member
Sep 18, 2008
878 posts
218 upvotes
Woodbridge
I guess this is why my house is not selling, one of these "affected" areas, priced the lowest from competitors and yet very slow, at tops 1-2 showings a week with no offer.

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