Toronto and Vancouver lead the provinces in an increase of number of homes sold in the month of April
Canadian home sales were up 2.7 per cent from March to April, boosted by the Vancouver and Toronto markets, according to the Canadian Real Estate Association.
However, sales through the Multiple Listings Service were down 0.3 per cent compared with a year ago and one per cent below the 10-year average.
· Even in Toronto’s hot market, buyers aren’t always buying it
The association says the April sales were up compared with March in half of all local housing markets, dominated by a rebound in Vancouver and Toronto.
· Average price of single home in Toronto shoots up 13% to $965,000
“Greater Vancouver and Greater Toronto fuelled the anticipated spring pick up in national home sales in April which masked softer activity in a number of smaller markets,” CREA president Beth Crosbie said.
· Land transfer tax carries huge costs for Toronto, report says
The national average price for a home sold in April was $409,708, up 7.6 per cent from a year ago. Prices were up in six of the 10 provinces.
The aggregate composite MLS Home Price Index was up 5.02 per cent.
The national sales-to-new listings ratio was 51.9 per cent in April compared with 52 per cent in March, suggesting the market was in balanced territory.
Published by: The Canadian Press on May 14 2014
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John Colella | Sales Representative
CENTURY 21 Miller Real Estate Ltd.
Brokerage, Independently Owned and Operated
467 Speers Rd., Oakville
Ontario, L6K 3S4
Direct Line: 905.464.0088 | Fax: 905.845.7674 | E-Mail: John.Colella@Century21.ca