Toronto and Etobicoke Real Estate Home Sales for April 2020
As we continue our 8th week of isolation during the state of emergency, you may have concerns about how the real estate market is being impacted by Covid 19. Here is a break down of Toronto and Etobicoke Real Estate Home Sales for April 2020.
Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for April 2020:
Home Sales and Listings
As to be expected due to the state of emergency, there was a huge decrease in sales in the Greater Toronto Area as REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This is down by 67% compared to April 2019 even though that isn’t even a fair comparison.
Weekday sales remained within a relatively steady range during the month of April averaging 130 per day.
New listings amounted to 6,174 in April also down on a year-over-year basis by a similar rate compared to sales (-64.1 %).
Read on to find out more about Toronto and Etobicoke Real Estate Home Sales for April 2020.
Home Prices
Surprisingly the average selling price for April 2020 was $821,392 – up by 0.1% compared to the average price of $820,373 reported for April 2019. So we are holding steady so far.
The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation.
However, the condominium apartment and detached segments experienced year-over-year price declines on average.
Covid 19 certainly impacted sales throughout the month of April in the Greater Toronto Area. As we enter the month of May I will continue to keep you up to date on sales activity.
As we continue to flatten the curve and restrictions slowly lift, the real estate market will slowly open up and there will be opportunity again. It is just a matter of time.
Wondering how the real estate market did in Mimico and New Toronto click here for the latest sold statistics.
Do you have questions about your Etobicoke home and wonder where it may fall within theses prices due to Covid 19?
I am monitoring the situation on a daily basis and will be able to provide you with timely up to date local market statistics. This way, you are kept in the know about your home’s worth as we navigate this global pandemic.
Please let me know if you have any questions.
