Toronto Real Estate Board announced that there were 12,085 sales reported in April 2016. Which represented a record for the month of April, was up by 7.4 per cent in comparison to April 2015.
All major home types except semi-detached houses in the City of Toronto were down for detached and semi-detached houses as well as townhouses on a year-over-year basis. This dip in sales in the ‘416’ area was due to a lack of low-rise listings. Many home buyers were not able to find a home that met their needs
The demand remains strong for all types of housing.Canadians continue to see the value in investing in real estate.
Home selling prices continued to trend upward in April. The Home Price Index Composite Benchmark was up by 12.6 per cent year-over-year. The average selling price was up by 16.2 per cent.
As we move into the busiest time of the real estate market, in terms of sales volume, strong competition between buyers will continue to push home prices higher.