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GTA

Affordability continued to improve across the GTA in May, and Durham buyers seized the opportunity. With 850 transactions (+11% from April) and an average sale price of $905,702, Durham homes sold for $250K less than Toronto ($1,155,616) and over $650K less than York Region ($1,560,990). 

 

While average prices were down 5% year-over-year, areas like Scugog (+20%) and semi-detached homes (+25%) saw major gains. Market activity rose in Pickering, Whitby, Oshawa, Clarington, and Uxbridge, with days on market holding steady at 16–19 days in most towns.

 

Buyers paid slightly over asking in most of Durham, with sale-to-list ratios hitting 102% in Ajax, 101% in Pickering and Clarington, and 100% in Whitby. Inventory gains across the GTA gave buyers more negotiating power, but local nuances still matter.

 

In Toronto’s condo market, average prices dipped 7% year-over-year to $710,724, but demand remains resilient. Days on market rose to 26, suggesting a slower pace — but motivated buyers continue to act on well-priced units.

 

The Bank of Canada held its key interest rate at 2.75% this week, keeping variable mortgage rates steady. The next rate announcement is scheduled for July 30, 202

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NORTHUMBERLAND & PETERBOROUGH 

Affordability and fresh inventory drove a busy May across Northumberland and Peterborough. Northumberland’s average sale price dipped to $690,187, –8% from 2024, while Peterborough climbed to $778,527, up 5% from 2024. 

 

Sales jumped 27% in Northumberland and 12% in Peterborough from April. Cobourg led the way in transactions, while Cramahe stood out for selling over asking at 102% of list price.

 

Days on market ranged widely from 18 days in Cramahe to 41 in Cavan Monaghan, where prices spiked 15% month-over-month. Port Hope cooled, with a 16% price drop and sales down nearly 50%.

 

Townhomes and semis are an excellent opportunity for buyers! Averaging between $502K and $552K in the region, they are well below GTA benchmarks.​​​​​​