April stats are in – Toronto Regional Real Estate Board President Michael Collins released the housing market statistics for April 2020.
“The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average.”
The social distancing and economic impacts associated with COVID-19 impacted condominium sales and listings throughout April.
“When thinking about home prices, it is important to remember that the pace of price growth is dictated by the relationship between sales and listings. So, while the onset of COVID-19 has understandably shifted market conditions and resulted in average selling prices coming off their March peak, there has continued to be enough active buyers relative to available listings to keep prices in line with last year’s levels,” said Jason Mercer, TRREB’s Chief Market Analyst.
We look forward to a busy season of pre-construction launches. We invite you to stay tuned to learn more about our upcoming projects.