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
Serial sexual offender linked to unsolved 1970s homicides of four Calgary girls, women
An investigation into unsolved historical homicides from the 1970s has linked the deaths of two girls and two young women in and around Calgary to a now-deceased serial offender.
Woman with liver failure rejected for a transplant after medical review highlights alcohol use
For nearly three months, Amanda Huska has been in an Ontario hospital, part of it on life support, because of severe liver failure. Her history of alcohol use is getting in the way of her only potential treatment: a liver transplant.
BREAKING Craig Berube named as next head coach of Toronto Maple Leafs
The Toronto Maple Leafs have named Craig Berube as their new head coach.
A look back at Alberta's record-breaking wildfire season
By the end of the 2023 wildfire season in Alberta, 1,088 wildfires had burned more than 2.2 million hectares of land, and this year, the wildfire season is already in full swing.
Person charged in random assault on actor Steve Buscemi in New York
A person wanted in connection with the random assault on actor Steve Buscemi on a New York City street earlier this month was taken into custody Friday, police said.
B.C. man 'attacked suddenly' by adult grizzly near Alberta boundary: RCMP
A B.C. man is recovering from multiple injuries after he was "attacked suddenly" by an adult grizzly bear near Elkford Thursday afternoon.
Australia's richest woman seeks removal of her portrait from exhibition
Art is subjective. And while many artists long to share their work with the world, there's no guarantee that the audience will understand it, or even like it.
Video appears to show Sean 'Diddy' Combs beating singer Cassie in hotel hallway in 2016
Security video aired by CNN appears to show Sean 'Diddy' Combs physically assaulting singer Cassie in a Los Angeles hotel hallway in 2016.
Anglers reel in 3.5-metre-long tiger shark off coast of Florida: 'She found my bait'
A group of fishers said it took roughly 20 minutes to reel in this 3.5-metre-long tiger shark off the coast of Florida.