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The Toronto Real Estate Board has released the sales data for May 2018, and although total sales were down 22% year-over-year, we continue to see stability in the market and a sustained, upward trajectory in housing values in the Greater Toronto Area.
At $805,320, the average sales price represents a sixth consecutive month of rising prices, and the highest combined average sales price since May 2017. At $1,045,553, the average price of detached homes was its highest since June 2017, while at $1,426,094, detached homes in the 416 were at their highest average price since May of last year.
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