GTA Market Watch | April, 2020

Wednesday May 06th, 2020

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Toronto Regional Real Estate Board President Michael Collins reported 2,975 residential transactions through TRREB’s MLS® System for Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS®. This result was down by 67 per cent compared to April 2019.

New listings in Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS® amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent). “The necessary social distancing and economic impacts associated with COVID-19 clearly impacted home sales and listings throughout April 2020. However, REALTORS® have been able to facilitate some transactions on behalf of buyers and sellers through the use of innovative techniques including virtual open houses. TRREB has also provided a live stream virtual open house option on Member listings featured on our public websites, and I would expect the use of these innovative techniques to increase as some level of social distancing remains in place for the foreseeable future,” said Mr. Collins.

The average selling price for April 2020 transactions in Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS® was $821,392 – up by 0.1 per cent compared to the average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average.

“When thinking about home prices in Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area REALTORS®, it is important to remember that the pace of price growth is dictated by the relationship between sales and listings. So, while the onset of COVID-19 has understandably shifted market conditions and resulted in average selling prices coming off their March peak, there has continued to be enough active buyers relative to available listings to keep prices in line with last year’s levels,” said Jason Mercer, TRREB’s Chief Market Analyst.


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