GTA Real Estate TRREB Market Report April 2021 Highlights
There were 13,663 sales reported through the MLS® System in April 2021
Home sales set a new record with more than quadruple sales compared to April 2020 (though 13% lower than March 2020)
However, going by seasonal trend, April 2021 sales & number of new listings actually declined month-over-month
Having said that, when compared to the 10-year sales average, April 2021 sales is up by 36.6%
Due to the pandemic we are seeing little population growth, which is starting to exhaust the pool of potential buyers
The average selling price of $1,090,992 is 33% up compared to April 2020, but flat relative to March 2021
“Despite a modest slowing in market activity in April compared to March, selling prices for all major home types remained very high. Low borrowing costs during COVID-19 clearly had an impact on the demand for and price of ownership housing. While the pace of price growth could moderate in the coming months, home prices will likely continue on the upward trend. Renewed population growth over the next year coupled with a persistent lack of new inventory will underpin home price appreciation,” – TRREB Chief Market Analyst.
Amit is a full time local REALTOR® with RE/MAX Real Estate Brokerage Inc. in Mississauga. RE/MAX is Canada's #1 real estate company. Team Kalia serves property sellers, first time buyers, investors, landlords, new immigrants and non-residents in Mississauga including Square One City Centre area. Team Kalia offers a 30 Days Sold Guarantee to Sellers. They also provide tenant finding services to their investor clients.