(Ottawa) The number of properties sold in May decreased across the country compared to last year and the average price also fell, the Canadian Real Estate Association (CREA) said on Monday.
The association says the number of properties sold in May fell 5.9% compared to the same month last year.
In May, sales in Greater Vancouver were down 19.8 per cent compared to last year, while in Greater Toronto they saw a 22.2 per cent decline. Sales in Edmonton increased by 19.7% compared to May 2023.
These changes came as the national average sales price for May was $699,117, down 4% from the previous year.
On a seasonally adjusted month-to-month basis, CREA reports that May property sales decreased 0.6% compared to April.
The number of newly listed properties increased by 0.5% month over month.
