The Numbers for April are In!

April home sales followed the regular seasonal trend with an increase relative to March. However, total residential transactions in the Greater Toronto Area (GTA) were down compared to the same time last year, as potential buyers continue to wait for lower borrowing costs and for certainty about the trajectory of the economy.

“Following the recent federal election, many households across the GTA are closely monitoring the evolution of our trade relationship with the United States. If this relationship moves in a positive direction, we could see an uptick in transactions driven by improved consumer confidence and a market that is both more affordable and better supplied,” said TRREB President Elechia Barry-Sproule.

“Inventory levels remained elevated historically in April, pointing to substantial choice for households looking to purchase a home in the GTA. Buyers took advantage of this choice when negotiating purchase prices, which resulted in a lower average price across market segments compared to last year. Lower prices coupled with lower borrowing costs translated into more affordable monthly mortgage payments,” said TRREB Chief Information Officer Jason Mercer.

In this dynamic landscape, having a knowledgeable and trusted realtor by your side is essential. Whether you’re thinking about buying, selling, or just exploring your options, we’re here to help guide you every step of the way!

Looking to buy or sell a home in Toronto? Average prices in April were as follows:

➕Detached $1,700,710 [-6.8% vs. 2024]
➕Semi-detached $1,266,322 [-7.2% vs. 2024]
➕Townhouse $1,018,449 [+.7% vs. 2024]
➕Condo $710,724 [-7.3% vs. 2024]
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Data presented is for City of Toronto Only. Source: TRREB.