Toronto s real estate market remains hot but shows first signs of cooling
While sales remained strong, the Toronto Regional Real Estate Board called it a marked slowing and said it signals a pullback in activity in a market that has been overheating since last year, despite the ongoing health crisis.
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The Canadian Press ·
Posted: May 05, 2021 2:28 PM ET | Last Updated: May 5
A real estate sign is pictured in a west-end Toronto neighbourhood last spring. A decrease in sales between March and April 2021 was a stark contrast to previous years, when average prices typically increased between those months and signalled the start of a flurry of spring sales.(Graeme Roy/The Canadian Press)
Toronto home sales were 4 times higher in April compared to the same time last year
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The real estate market in Toronto has been in even more of a frenzy thus far in 2021 than usual, with prices hitting new all-time highs despite the fact that much of the economy is still shuttered due to the pandemic.
Condo sales have rebounded from a brief interlude of somewhat greater supply and cheaper prices caused by the health crisis, while the average price of a home of any type in the GTA as a whole spiked over $1 million. (A detached house in the city proper, meanwhile, will now set you back an average of $1.75 million.)
GTA home sales up 362% since last April, but market is starting to slow: TRREB
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Yes, this is enough
A real estate sale sign is shown in a west-end Toronto neighbourhood Saturday, March 7, 2020. THE CANADIAN PRESS/Graeme Roy
TORONTO – The Toronto Regional Real Estate Board says April delivered a record number of home sales for the region, but the market is starting to slow from the torrid pace seen earlier this year.
The board says 13,663 homes were sold in the region in April, a 362 per cent increase from the 2,957 properties sold last April, which was the first full month of the COVID-19 pandemic.
Toronto s real estate market remains hot but shows first signs of cooling
While sales remained strong, the Toronto Regional Real Estate Board called it a marked slowing and said it signals a pullback in activity in a market that has been overheating since last year, despite the ongoing health crisis.
Social Sharing
The Canadian Press ·
Posted: May 05, 2021 2:28 PM ET | Last Updated: May 5
A real estate sign is pictured in a west-end Toronto neighbourhood last spring. A decrease in sales between March and April 2021 was a stark contrast to previous years, when average prices typically increased between those months and signalled the start of a flurry of spring sales.(Graeme Roy/The Canadian Press)
GTA home sales up a whopping 362% since last April - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.