TORONTO, JUNE 5 (Reuters) - Home sales in Toronto jumped 19% in May from a 15-year-low set a year ago, but the number of transactions is still below the average for the month over the previous 10 years, data from the Toronto Real Estate Board (TREB) released Wednesday showed.
The average home price rose 3.6%, while the number of listings increased less than 1% from a year ago.
"After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing," TREB President Garry Bhaura said in the release. But with sales growth outstripping listings, "market conditions continued to tighten in favor of sellers," he added.
MAY
APRIL
MAY 2018 YR/YR PCT
CHANGE TOTAL SALES
9,989
9,042
8,402
19%
AVERAGE PRICE C$838,540 C$820,148 C$809,305
3.6% NEW LISTINGS
19,386
17,205
19,237
0.8% After preliminary seasonal adjustment
MAY
MTH/MTH PCT
CHANGE SALES
7,442
5.2% AVERAGE PRICE C$795,232
2.8% Sales by type of property
MAY
YR/YR PCT
CHANGE DETACHED
4,649
25.1% SEMI-DETACHED
1,019
27.9% TOWNHOUSE
1,656
22.8% CONDO APARTMENT
2,542
6.4% Average price by type of property
MAY
YR/YR PCT
CHANGE DETACHED
C$1,042,218
1.1% SEMI-DETACHED
C$827,250
1.9% TOWNHOUSE
C$665,967
3.2% CONDO APARTMENT
C$590,876
4.9%