Toronto’s real estate market was back on fire with a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018.

After a slower start to the year, April’s activity is encouraging for those looking to move. New listings were up slightly but in comparison to overall sales, still more housing inventory is needed before we start to see an overall flattening in sale prices.

Condo sales prices continue to lead with prices going up 5.8% with the average condo price in Toronto now at $637,181.00. Encouraging news on the detached home sale front in that activity was up 20% although year-over-year prices remained the same with the average being $1,355,764.00

Combined overall average sales prices are up 1.9% which is a healthy and reasonable rate.