Spring market is here… finally !!

By: Thomas Cook

Spring market is here… finally !!

For the first time this year, sales were up for April compared to last year with 9,042 houses and condominiums changing hands in all the districts.  Although higher than 2018, these numbers are similar to what we saw 6+ years ago.
Condo townhouse and high-rise suites took a typical 33.5% share of the market with 3,028 units being sold.
The April average sale price for all GTA homes came in at $820,148– up a very slight 1.9% from  one year ago.
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of April compared to historical numbers was basically FLAT compared to last year at this time.
This is actually a good sign since we’re not being overwhelmed with high inventory levels and probably keeping us from seeing a slump in prices in some GTA locations.
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
In April, that ratio finished at 50.1% - about 8% above last year.  The GTA overall has moved slightly more into moderate seller market territory so buyers and sellers may need to adjust their pricing expectations if they want to make a move.
The days-on-market average for GTA / Toronto homes was 19 days, 2 days faster than March. 

Here’s a snapshot summary of the significant real estate milestones for Toronto in April 2019… sales and average sale prices up slightly compared to 2018.

Watch the video to get the complete April 2019 Market Report details.

Here's the complete text version of the April 2019 Toronto Real Estate Market Report to read.

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