The Toronto real estate market saw a shift in April 2024 compared to the same period last year, with home sales down but new listings significantly up. The Greater Toronto Area (GTA) reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS® System, a five percent decrease from April 2023. However, new listings surged by 47.2 percent year-over-year, providing more options for potential buyers.
Despite the increase in listings, the MLS® Home Price Index (HPI) Composite benchmark was down by less than one percent year-over-year. The average selling price, however, rose by 0.3 percent to $1,156,167. On a seasonally adjusted month-over-month basis, the MLS® HPI Composite increased by 0.4 percent, and the average selling price was up by 1.5 percent compared to March.
In summary, the Toronto real estate market in April 2024 saw a decline in sales but an increase in listings, resulting in stable prices. The market is expected to tighten in the coming months, leading to potential price growth in the future.
For further details or assistance with the real estate in the GTA, feel free to contact
Paul Bendavid
RE/MAX Realtron Realty Inc. Brokerage
Cell: 647-988-7355
Office: +1 905 539 9511
Address: 183 Willowdale Ave, Toronto, Canada
