June 3, 2010 -- Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.
As predicted the market is becoming more normal. More listings, more choice and buyers are being more measured in their response. As we move through 2010 year on year comparisons to 2009 become more meaningful. First quarter of '09 was slow, first quarter of  '10 was insane. Price increases are still being recorded but as unit sales drop then average price will moderate, perhaps even a modest decline very much later in the year when increased interest rates take hold. The economy looks good, employment looks good, consumer confidence looks good. The only worry is that there is too much good news. The penalty of living in the best country on the planet.
New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.


Median Price
In May, the median price was $376,750, from the $337,000 recorded during May of 2009.