Sales growth in May along with a decline in new listings helped to ease pressure on inventory levels, which finished the month at 7,467 units, a decline of 12 per cent compared to last year. Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May. Citywide sales in May totalled 1,921 units, 11 per cent higher than last year’s levels. However, sales remain 10 per cent below longer-term trends. This sales growth was primarily driven by homes prices under $500,000. Citywide benchmark prices totalled $424,600 in May. While prices have shown some signs of improvement month-over-month, they still remain four per cent lower than 2018 levels.

Quick Stats:

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.

Flexible Dumpsters for Home Renos

These durable trash containers can be purchased and taken home (or delivered) for indefinite use, then picked up for a preset fee when full. When the bag is picked up, another bag is dropped off. Available through specialty suppliers or through some home renovation stores, these “soft bins” are easy to move when empty, and they take up much less space than large metal dumpsters. They also take much less time to fill up, so you’ll have a tidier renovation site and less of an eyesore on your property.