The GTA's real estate sales were on the up in April, but the volume of new listings didn't keep pace, and with fewer listings and more buyers, market conditions are unsurprisingly tight. TheReal_TRREB | realestate realestatenews Toronto
At the same time, the number of new listings in the GTA has remained relatively flat, far from keeping pace with the jump in sales. With a grand total of 11,364 new listings in April, this marks a 1.6% increase over March, and a 38.3% decline on an annual basis.
Those lower selling prices, however, are changing. With fewer listings and more buyers, market conditions are unsurprisingly tight, helping to push prices up. The average selling price in April all across the GTA hit $1,153,269 — a slight, but not negligible, 4% increase from just one month prior. Price increases were seen across all housing types, but the biggest change was found in townhomes, where a 5.5% month-over-month increase brought the new average price to $986,121. It was followed by semi-detached homes with a 4.4% jump to $1,135,599, condos with a 2.8% jump to $724,118, and detached homes with a 1.4% jump to $1,489,258.
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