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Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This result was down by 67% compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per day.

New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales at -64.1%.

The average selling price for April 2020 transactions was $821,392 – up by 0.1% compared to the average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average.

Here is the March 2020 Market Report, a quick resale housing analysis with key stats for Toronto & the GTA.

8,012 home sales were reported through TRREB’s MLS®System in March 2020 in the GTA – up by 12.3% compared to 7,132 sales reported in March 2019. The overall March sales result was driven by the first two weeks of the month (in the pre-COVID -period before March 15th), with 4,643 sales reported, accounting for 58% of total transactions. There were 3,369 sales reported during the post-COVID-period (after March 25th) – down by 15.9% compared to the same period in March 2019.

First, we hope that everyone is safe and sound during this time of uncertainty. From our team’s perspective, we are all healthy, safe, and working hard to ensure that everyone continues to receive the high quality uninterrupted service that we take pride in. With that in mind, we wanted to take a moment to review a critical mortgage update regarding changes in the market and how these may impact agents and/or their clients. The team here at Outline Financial are available to discuss these details with you at any time.