Toronto Regional Real Estate Board (TRREB) April Market Report, Sales Down Across the Board, But Some Segments Had Prices Going Up
Thursday May 07th, 2020
Home Sales and Listings:
Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This result was down by 67 per cent compared to April 2019.
New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent).
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.
Detached Semi-detached Townhouse Condo Apartment
Sales 313 126 108 482
Yr./Yr. % Change -67.9% -54.8% -68.4% -69.9%
Avg. Price $1,249,730.00 $1,096,437.00 $784,899.00 $612,300.00
Yr./Yr. % Change -7.8% 4.0% 3.5% -4.0%
Condominium Apartment Rental Market
One-bedroom condominium apartment rental transactions were down by 57.9%;
Two-bedroom rental transactions were down by 54.4%
Average rents for one-bedroom and two-bedroom apartments were down on a year-over-year basis in April 2020 as well.
The average one-bedroom rent was $2,107 – down 2.7% compared to April 2019.
The average two-bedroom rent was $2,705 – down 4.1% compared to April 2019.
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