Greater Toronto Area Report April 2019, Steve Moran, Remax
Toronto home sales roared ahead in April, climbing almost 17 per cent from last year's sluggish sales level. While sales were up year-over-year in April, it is important to note that they remain well below April levels for most of the past decade.
Although the condominium market has been the Toronto region's hottest housing segment for most of the past two years, detached houses dominated sales in April.
The average sale price for all types of homes, climbed 1.9 per cent over last April to $820,148, pushed higher by tighter market conditions.
The average detached house price in the City of Toronto was $1,355,764 in April, while detached prices averaged $914,249 in the 905 region surrounding Toronto.
The condominium market continued to account for most of the price growth last month. Condo prices rose 5.1 per cent year-over-year to an average of $588,168.
Looking forward, with sales climbing more rapidly than new listings in April this suggests an acceleration in home price growth this year.
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