For April 2024, GTA real estate market monthly sales increased 8.4% and prices also went up 3.1%. From last year, sales dropped by 5% and prices stayed steady. Detached home prices rose by 1.8% while townhomes dropped by -3.7%.
Sales were down compared to last month while supply has grown quite significantly. Buyers enjoyed more choice but interest rates continue to keep affordability as a concern.
More homes were listed likely in anticipation of more buyer activity while buyers wait for interest rates to come down. Mortgages coming up for renewal have also played a role in motivating sellers to list. Diverse opportunities and challenges were presented for both buyers and sellers.