Listings up, Sales slightly down - April Real Estate Market Update

April 2024 home sales in the GTA were down in comparison to April 2023, when there was a temporary resurgence in market activity. While last April a total of 7487 Sales were reported on the Toronto Real Estate Board's MLS System, there were 7114 this year (-5%). The average price for all type of homes combined ($1,156,167) remained unchanged on a year-over-year basis.

The average price in Aurora in April was $1,331,773. That's 2.9% lower than last year. Newmarket's Prices on the other hand went up 1.7% from $1,158,179 in April 2023 to now $1,177,375 (+1.7%). Other towns like Bradford (avg. $1,295,280 / -2.3%) or East Gwillimbury (avg. $1,295,280 / -3.1%) came down similar to Aurora.

York Region prices 3.2% down

The average price in York Region decreased by 3.2% on a year-over-year basis to $1,326,533. On a more significant level, the amount of homes sold in April 2024 (1270) was 7.3% lower than in the previous year (April 2023: 1370).

(Data Source: TRREB Market Watch)

GTA: Listings up 47%

Listings throughout Toronto and the GTA were up significantly on a year-over-year basis; from 11,509 in April 2023 to 16,941 this year (+47,2%). While prices remain stable at a high level, there's now more inventory to choose from for Buyers. It also appears that many Buyers are awaiting the next Interest Rate announcement by the Bank of Canada on June 5.

As always, if you have any questions or if you are interested in a free and no obligation market evaluation of your home, please don't hesitate and reach out anytime. Or click right HERE.

Luke Mitchell joins the Team!

We are very excited to introduce Luke Mitchell as our new Team Member. Luke's family has been in Real Estate for decades and growing up in Newmarket and attending School in Aurora he's a local expert. Before getting licensed, Luke has been working on the marketing side of the business for many years.