There were 10,046 transactions reported in the GTA for the month of May 2011, which is a 6-percent increase compared to May last year. This is the first month of 2011 to beat the comparable month in 2010. However, the number of new listings took a 15-percent dive to 16,076 compared to May 2010, upholding the tight market we’ve experienced this year thus far.
This trend continued into June as well with average transaction price being up by 9% – $477,583 and the amount of transactions being up by 16% – 4787 (first two weeks of June).
Based on this figures I am still not changing my prognosis that it is a great time to either sell your property fast or to get one while market conditions are still conducive (low mortgage rates).