Our long, brutal winter conspired to postpone our spring real estate market but it finally burst forth in April with higher sales than last year for the first time since January 1st.
Although sales are brisk in Toronto’s ‘downtown’ neighbourhoods for both houses and condo suites, average sale prices overall are showing little appreciation (1.9%) while downtown condo average selling prices are up 4-6% from 2018.
The burbs are still encountering difficulties with some encountering average price declines and lower sales numbers.
You can expect our late spring market to continue through May and June and probably taper off somewhat during the summer months.
What about your investment property or personal home? Are you wondering what either of them might sell for in today’s changing market?
For a condo valuation, go to DowntownTorontoCondoValues.com - please BE SURE to leave me your condo’s monthly maintenance fee. For a specific house valuation, click on DowntownTorontoHouseValues.com.
To keep current on market activity changes and analysis during the month, go to Facebook and ‘Like’ my Toronto Real Estate Analysis page.
Watch the video or read my APRIL 2019 Market Report Analysis and please keep me in mind when any of your friends are talking about buying or selling real estate in Toronto.
Spring market is here…
finally !! [VIDEO]
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.
Watch the video to get the complete April 2019 Market Report details.
If you'd prefer to read the full market report details, click here.
For Those Of You Who Like Trivia...
Now and then we post our latest World’s Most Interesting Postcard in our Team newsletter. You might be amazed at what you’ll learn from these interesting tidbits!!
Click to see larger image
Keep Your Ears Open For Real Estate Conversations...
People always feel good about recommending a person or a business where they've received terrific service. They want their friends to enjoy the same great experience they had.
Please keep us in mind throughout 2019 whenever you hear friends talk about real estate at any time... we're always here to advise, consult and help.
Amazing Free Services Available From This Professional Realtor
As a successful Toronto Realtor helping condo and house buyers and sellers since 1980, I've developed many programs and services to assist people with their real estate needs.
I've even written several soft-cover books and reports to help explain how buyers and sellers can make their best, informed decisions.
There are important benefits and advantages to being well prepared for the upcoming real estate experience.
You definitely want to avoid making significant buying or selling mistakes.
Here's a list of my 'Free Stuff' that's available to you.