Record April Toronto Sales But Numbers Lower Than March

By: Thomas Cook

Record April Toronto Sales But Numbers Lower Than March

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our APRIL 2021 Toronto real estate market report.
 
The Toronto real estate market has AGAIN hit a number of records including the highest ever April total home sales plus the highest ever condo TH and highrise suite sales during the month.
 
So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.
 
Huge numbers came in once again for April with a record 13,663 sales of houses and condos across the GTA.  The next closest to this was way back in 2016 when we had 12,016 sales.  Low interest rates and high demand are continuing to boost our local market.
 
Sales were up 362% from April 2020 although that’s a misleading number since last year we were in the midst of the pandemic.  Sales were down about 2000 homes from March.
 
Condo townhouse and high-rise suites hit a new record with sales up big time year-over-year with 4,413 units being sold. Next highest April was back in 2017 when there were 3,768 units sold.
 
The April 2021 average sale price for all GTA homes came in at $1,090,992… a big, but misleading 33% increase compared to one year ago and fractionally lower than the March number.  Since February 2021, the average has been over $1,000,000.
 
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The ‘active listing’ inventory average for the month of April was up 10.5% compared to last year at this time.
 
Active listings for the month were up 10% compared to March 2021.
 
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.
 
With our busy market… the April ratio dropped to 117% which still is representative of an extremely busy seller’s market.
 
The days-on-market average for GTA / Toronto homes stayed steady at 10 days.
 
Here’s a snapshot summary of the significant real estate milestones for Toronto in April 2021 as we come to 14 months since the start of the coronavirus pandemic.