Despite slight decline month-over-month, TREBB highlights Toronto's 10-year average sales for April up 36.6%

Year-over-year home sales in the GTA set a new record for April and amounted to more than quadruple the sales from April 2020, when the economic impact of COVID-19 was arguably the worst. Going against the regular seasonal trend, April 2021 sales actually declined month-over-month.

13,663 sales were reported through TRREB’s MLS® System in April 2021 – a 12.7% decrease compared to March 2021. Compared to the ten-year sales average of 10,000 for the April 2010 to April 2019 period, the April 2021 sales result was up by 36.6%.

“While sales remained very strong last month, many REALTORS® noted a marked slowing in both the number of transactions and the number of new listings. It makes sense that we had a pullback in market activity compared to March. We’ve experienced a torrid pace of home sales since the summer of 2020 while seeing little in the way of population growth. We may be starting to exhaust the pool of potential buyers within the existing GTA population. Over the long term, sustained growth in sales requires sustained growth in population,” said TRREB President Lisa Patel.

AT A GLANCE: TORONTO + GTA REAL ESTATE STATISTICS

New listings followed a similar track – down by 8.4% compared to March 2021, but more than triple the number of new listings reported in April 2020. Compared to the ten-year new listings average for the April 2010 to April 2019 period, the April 2021 new listings count was up by 18.3%.

“Despite a modest slowing in market activity in April compared to March, selling prices for all major home types remained very high. Low borrowing costs during COVID-19 clearly had an impact on the demand for and price of ownership housing. While the pace of price growth could moderate in the coming months, home prices will likely continue on the upward trend. Renewed population growth over the next year coupled with a persistent lack of new inventory will underpin home price appreciation,” said TRREB Chief Market Analyst Jason Mercer.

If you have any questions or would like more information on recent home sales in your neighbourhood, don't hesitate to get in touch.

Suzanne Lewis
SALES REPRESENTATIVE
Keller Williams Advantage Realty
416.856.1937
suzanne@suzannelewis.ca

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