Real Estate

GTA real estate May month-end stats

  • Last Updated:
  • Jun 4th, 2021 12:11 pm
[OP]
Deal Addict
Mar 20, 2017
1330 posts
1116 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
5887 posts
3039 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,
Sr. Member
Sep 24, 2006
954 posts
202 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
3255 posts
1165 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...
<removed>
Sr. Member
Sep 18, 2008
849 posts
206 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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