05/10/2021
April was another record setting month in terms of number of units sold, the second highest month on record (March 2021 was #1). There was a total of 13,663 units sold!
The average price for all home types had decreased to $1.09M but still up 33% from this time last year. We saw a 362% YoY increase in the number of units sold but keep in mind, April 2020, was the first full month of the pandemic and people pulled out of the market due to uncertainty.
Condos, collectively, saw a rise of $15K in the average price from last month.
Looking at each region, Toronto and York saw an increase in average price of $5K and $18K, respectively. All other regions saw a decrease - Halton (↓37K), Simcoe (↓30K), Peel (↓25K), and Durham (↓4k). Units also on market for an average of 2 more days, with DOM jumping to 12 days, from 10 days in York, Peel and Durham.
Overall, it has been a steady month despite some of the headlines.
"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
RealEstateAdvisor
