The month of April traditionally marks the beginning of the spring market, the most active time for home buyers and sellers. Check out our monthly infographic of homes sold in Toronto for April 2014.
Industry experts mention that despite the persistent shortage of listings hitting the market, a substantial amount of home buyers were able to find a home that met their needs. TREB president Dianne Usher noted that there were a number of the reasons as to why there was a constrained number of listings on the market. After studies and polling, the additional upfront land transfer tax in City of Toronto has prompted some homeowners to stay and renovate rather than move. The Zoocasa team has crunched the numbers below.
The average selling price this month for the city of Toronto was $642K which is up from $576K from the same time last year. There were 3,544 sales made during the month compared to the 3,591 of the same time last year. The number of new listings for the month stood at 6,686 which is down from last year’s figure of 7,004. Finally the average days on market stood at 20 compared to 23 of April 2013.