Column Toronto Real Estate Brokerage Royal LePage RES Ltd/Johnston and Daniel Division Toronto REALTORS® Louise Dodd and Jason Dodd
Column Middle Toronto REALTOR® Louise Dodd Toronto REALTOR® Jason Dodd Toronto Real Estate Services Toronto Real Estate for Sale Previous Toronto Real Estate Sales Toronto Real Estate Information and Other Information
April Real Estate Market

Toronto Real Estate Board April MLS sale statistics:

  • GTA single family home sales including condo townhouses and apartments - 9,042.
  • Volume - up 16.8%, compared to April 2018 7,744 sales.
  • Volume - up 25.8% compared to March 2019 7,187 sales.
  • Average price of a GTA single family home - $791,857.
  • Up 0.05% from 2018's average price of $787,195.

(The GTA is Burlington to Clarington, Lake Ontario to Lake Scugog)

"While sales were up year-over-year in April, it is important to note that they remain well-below April levels for much of the past decade. Many potential home buyers arguably remain on the sidelines as they reassess their options in light of the OSFI-mandated two percentage point stress test on mortgages. Longer term borrowing costs have trended lower this year and the outlook for short-term rates, for which the Bank of Canada holds the lever, is flat to down this year. Unfortunately, against this backdrop, we have seen no movement toward flexibility in the OSFI stress test," said Jason Mercer, TREB's Chief Market Analyst.

We track MLS sales daily.

  • November 2016 to May 30th 2017, 90% of properties in central districts sold for over asking price.
  • April 2019 40-65% of properties sold for asking or under.

(Central districts cover the Lake to York Mills, and the Humber River to Victoria Park.)

The April residential resale market continues to be a story of different markets that vary by housing type and location.

  • In central Toronto limited supply and strong demand, meant bidding wars and "bully offers" in both freehold and condos if the list price was reasonable.
  • The 905 region remains a softer market.
  • According to a 2018 Royal LePage national survey, 56% of baby boomers consider their local housing market unaffordable for retirement.
  • More first time home buyers are being priced out of the central Toronto market and are seeking homes in the 905.
  • The mortgage stress test, federally mandated, was introduced in 2018 to cool Toronto's and Vancouver's housing markets. These rules have reduced the amount buyers could borrow and have negatively impacted the $1,000,000 market.

Average Price April 2019
Average Price April 2018
City (416)
$903,992
$866,168
G.T.A. (905)
$773,462
$767,611

Average GTA Prices 1993 to 2018

1993
$206,490
2006
$351,941
1994
$208,921
2007
$376,236
1995
$203,028
2008
$379,347
1996
$198,150
2009
$395,460
1997
$211,307
2010
$431,276
1998
$216,815
2011
$465,014
1999
$228,372
2012
$497,130
2000
$243,255
2013
$522,958
2001
$251,508
2014
$566,624
2002
$275,231
2015
$622,120
2003
$293,067
2016
$729,835
2004
$315,231
2017
$822,572
2005
$335,907
2018
$787,300
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