Jason Mercer, TREB ‘s Senior Manager of Market Analysis stated “The annual rate of price growth in May was not surprising given the competition that still exists between buyers, particularly for low-rise home types such as single-detached and semi-detached houses”. He went on to say “We remain on track for a 3 ½ percent increase in the average selling price for 2013 as a whole”.

Realtors sold 10,182 properties through the Toronto MLS system last month, representing a slight dip of 3.4% over the same period last year. The average selling price in May 2013 was $542,174, which was an increase of 5.4% over the May 2012 figures of $514,567.

The annual rate of price growth was fueled by the tight low-rise segment of the market and in particular the single-detached and semi-detached home transactions in our areas. Single-detached homes in the GTA showed an increase of almost one percent compared to the same period last year, including a 3% year-over-year increase in the City of Toronto. Average high-rise condominiums were also up slightly over this time last year.

In a statement from Toronto Real Estate Board President Ann Hannah she said the following about May Market Statistics “The sales picture in the GTA has improved markedly over the past two months. While the number of transactions in April and May remained below last year’s levels, the rate of decline has been much smaller. A growing number of households who put their decision to purchase “on hold” as a result of stricter lending guidelines are starting to become active again in the ownership market.”

Right now is an excellent time to buy or sell in the GTA. If you are considering selling, let the experts at the Wright Sisters Team assist you by providing an accurate, professional evaluation of your homes market value. If buying a home is in your future, The Wright Sisters Team has specialized Buyers Agents to guide you through the process and negotiate on your behalf.

Bluffers Park – The bluffs stretch for about 14 km along Lake Ontario from the Eastern Beaches to West Hill. The park features a sandy beach, picnic areas, walking trails and the top of the bluffs offers an excellent view of the sandstone cliffs, Bluffer’s park and Lake Ontario.

The Toronto Islands – Only a short ferry ride from downtown is one of the city’s most treasured green spaces and a popular recreational destination. A 325 hectare, waterfront picnic park made up of several islands with features such as the Gibraltar Point Lighthouse, Franklin Children’s Garden and Centreville.

Toronto Music Garden – Fronting on Toronto’s inner harbour, the Toronto Music Garden is one of the city’s most enchanted locations. The park design is inspired by Bach’s First Suite for Unaccompanied Cello, with each dance movement within the suite corresponding to a different section of the garden.

Rouge Park – Rouge Park is Toronto’s largest park and will be Canada’s first national urban park. Over 40 kilometres stretch from the Oak Ridges Moraine to the shores of Lake Ontario and encompass Canada’s largest wetland, National Historic Sites, wilderness areas, historic farmlands, fishing areas and a sandy beach.

High Park – Recognized as one of the most significant natural sites within the City of Toronto, the park contains an outstanding concentration of rare plant species and offers many popular attractions as well as activities for visitors to enjoy.

Guildwood Park – A sculptural sanctuary, beautiful gardens and a history recounting famous artists, powerful political figures and contributions made to the art community. The out-of-the-ordinary backdrops are incredible.

Humber Bay Butterfly Habitat – Located along the shores of Lake Ontario in Toronto’s west end, the Humber Bay Butterfly Habitat is an ecological restoration project that provides critical habitat for a variety of native butterfly species.

HTO Park – Located in Toronto’s Inner Harbour, this unique park includes grassy hills, a long sand beach extending along the water’s edge, stationary yellow shade umbrellas and Muskoka chairs. Billed as ‘Toronto’s Urban Beach’, HTO Park is an inviting space that highlights contemporary landscape design.

If you haven’t experienced these beautiful parks, why not take the time to get out and explore the more peaceful side of our great city.