Impressive Rally in Greater Toronto Area Housing Market Continues in May, Highlighting Strong Resilience and Widespread Recovery

/ 06.5.2023

GTA Market Activity – May 2023

In May, the housing market in the Greater Toronto Area (GTA) continued its upward trajectory, displaying an impressive rally in home prices. The average price surged by $42,832, marking the second consecutive month of substantial gains exceeding $40,000. This surge is particularly noteworthy when compared to the market bottom observed in January, where properties were selling at an average of $1,038,668. Since then, home values have experienced a commendable recovery, reclaiming $157,433 of the previously incurred losses.

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