Market Watch - April 2020
Wednesday May 06th, 2020Share
April 2020 Market Watch
The Covid-19 virus has had numerous impacts on our lives and it has also affected the real estate market. The impact on the real estate market can best be described as having dramatically been slowed down, somewhat like our lives have been slowed down. While market activity has slowed down, the good news is that selling prices have remained fairly steady.
Here is a summary of the Great Toronto Area (GTA) for you, comparing April 2020 to April 2019 year over year.
|# New Listings||6,174||17,213||-64.1%|
|Listing Days On the Market||19||19||0.0%|
When this data is examined by region and type of home, two observations are apparent.
- The 905 market is fairing better than the 416 market.
- Semi-detached and townhouses are contributing to price stability. The average sale price of these two segments rose 7 % and 3.8 % respectively. The average sale price of the detached and condo apartment segments dropped by 3.5% and 1.7% respectively.
The numbers below tell the story.
|416 Average Price||416 % Change||905 Average Price||905 %Change|
Source: Toronto Regional Real Estate Board
Here is a link to view the April 2020 full report of Market Watch: https://communications.torontomls.net/mlshome/files/pdf/market-stats/market-watch/mw2004.pdf
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