Greater Toronto home sales down in April but new listings surge: board
The Toronto Regional Real Estate Board says Greater Toronto home sales in April were down five per cent from last year, but new listings surged, which created more choice for buyers and kept prices stable.
The board says 7,114 homes changed hands in the month compared with 7,487 last year, noting April 2023 saw a temporary resurgence in market activity that led to a sales boost.
The average selling price was up 0.3 per cent year-over-year to $1,156,167.
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
New listings jumped 47.2 per cent over the same period, with 16,941 properties put on the market last month compared with 11,509 in April 2023.
TRREB president Jennifer Pearce attributes the increase in new listings to many homeowners anticipating more demand this spring.
But while sales are expected to pick up, she says "many would-be homebuyers are likely waiting for the Bank of Canada to actually begin cutting its policy rate before purchasing a home."
This report by The Canadian Press was first published May 3, 2024.
CTVNews.ca Top Stories
3 injured after man with knife enters Montreal-area mosque
Three men were injured after trying to subdue a man armed with a knife during afternoon prayers at a Montreal-area mosque Friday afternoon.
Police arrest 18-year-old woman who allegedly stole Porsche and ran over its owner
Police have arrested an 18-year-old woman who allegedly stole a Porsche and then ran over its owner in an incident that was captured on video.
Woman nearly shut out of mother's estate sues brother in B.C. Supreme Court – and wins
Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.
Teen arrested in New Brunswick after emergency alert; 5 people in custody
A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.
Kamala Harris tells Oprah any intruder to her home is 'getting shot'
U.S. Vice President Kamala Harris on Thursday issued a warning to any potential home intruder: 'If somebody breaks in my house, they're getting shot.'
'We're still pushing hard': Search for missing Manitoba boy continues, RCMP find tracks
The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.
On the trail of the mystery woman whose company licensed exploding pagers
What Cristiana Barsony-Arcidiacono, 49, the Italian-Hungarian CEO and owner of Hungary-based BAC Consulting, says she hasn't done is make the exploding pagers that killed 12 people and wounded more than 2,000 in Lebanon this week.
Four dead in northern Ontario house fire
Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.
Top Hezbollah commander among 14 killed in Israeli strike on Beirut
Israel killed a top Hezbollah commander and other senior figures in the Lebanese movement in an airstrike on Beirut on Friday, vowing to press on with a new military campaign until it is able to secure the area around the Lebanese border.