April 2021
Along with the pandemic the residential real estate market continues to make headlines.
April 2021's numbers demonstrated a strong rebound over April of last year when we were navigating the initial stages of the outbreak.
The Greater Toronto Area saw the volume of sales grow by 358% compared to last year with prices up 32% for all home types.
Home sales in the Greater Toronto Area (GTA) set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic.
New listings were down by 8.4% compared to March 2021, but more than triple the number of new listings reported in April 2020.
Compared to the ten-year new listings average for the April 2010 to April 2019 period, the April 2021 new listings count was up by 18.3%
With the onset of the pandemic condos around the GTA saw the greatest effect where a great number of investors and landlords tried to exit the market putting a large supply of inventory up for sale.
With fewer buyers, values naturally started to fall. Confidence is entering back into the condo market, prices are now up almost 20% over last April and up 17% over April 2019
The new construction market has also been extremely busy where developers are seeing multiple offers on many of their projects.
Popular developments are seeing over 1000 applicants for less than 350 available units.
With this level of demand, it is so important to have someone with the right experience to assist you in navigating this marketplace.
Should you have any interest in investing in real estate I am always available to help.
Please never hesitate to reach out should you have any questions....