Members of the Toronto Regional Real Estate Board reported 2,975 transactions in April 2020, down 67% year over year. The complete slowdown in sales was buffered by the lack of new product, with only 6,174 new listings, or a similar decline of 64%.
Toronto Real Estate prices fell 9% this month, down to $821,392. Although we’ve given up the beginning of the year’s gains, sale price is only 0.1% up from where it was this time last year.
One thing is certain: the month of May is shaping up to be a clear indicator for the rest of the year. As social distancing measures begin to ease, buyers and sellers will return to their original plans before the interruption.
The Full Picture
ReaLawState’s Market Report contains an in-depth look at Toronto Real Estate market statistics and Key Indicators, providing you with insider information you didn’t know possible.
Baron Alloway is the CFO of ReaLawState. As a trained engineer, Baron brings with him an extensive by-the-book amount of knowledge to the Real Estate World. Always tinkering, Baron is passionate about the intersections of Real Estate and technology.