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.

"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.

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.