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‘the numbers’ [april 2024]
by sutton old mill

➕April 2024➕

 

More Listings, More Options, Yet Buyer Caution Persists

Primarily influenced by the temporary spring surge of the previous year, April 2024 witnessed a decline in home sales compared to April 2023.

Despite a significant increase in listings compared to both last year and the previous month, many buyers are enjoying an abundance of choices, which has resulted in a moderation of sales prices. Additionally, it’s widely believed that numerous buyers are awaiting potential Bank of Canada rate cuts.

Looking forward, we anticipate a surge in ownership demand as we progress through spring, especially with the potential for lower borrowing costs to create tighter market conditions and spur renewed price growth.

At a macro level, there remains a pressing need for coherent housing policies between all levels of government to sustain long-term affordability and choice for residents.

In this dynamic landscape, it is vital to have a trustworthy and knowledgeable realtor by your side. Whether you’re considering selling or buying a property, or if you have any real estate inquiries, feel free to reach out. We are here to guide you!

Looking to buy or sell a home in Toronto?  Average prices in April were as follows:

Detached $1,822,244 [+2% vs. 2023]

Semi-detached $1,365,061 [+3% vs. 2023]

Townhouse $1,010,632 [-4% vs. 2023]

Condo $766,917 [+2% vs. 2023]

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