According to the April TRREB Market Report, semi-detached and townhouses reported annual average price growth above the rate of inflation.
Condo apartment and detached homes reported year-over-year price declines on average.
There was a 67% decrease in the number of sales in April 2020 versus that of 2019. Similarly, the year-over-year new listings number went down by 64%. Despite the significant decrease due to the COVID times, the average selling price for April 2020 transactions was $821,392 – up by 0.1% compared to the average price of $820,373 in April 2019.
The trend for the MLS® Home Price Index Composite Benchmark was on the rise for the year, however was flattened in April. On a year-over-year basis, the Benchmark was up by 10 per cent. The fact that the MLS® HPI was up year-over-year by a greater rate than the average selling price suggests that the share of higher end deals completed in April 2020 versus April 2019 was down.
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April 2020 vs. April 2019
April 2020 vs. March 2020