08 May Toronto Market Update | April 2020
In April, there were 6,174 properties listed, a decrease of -64.1% compared to April 2019. Residential transactions were down by -67% year over year, with 2,975 sales recorded. And the average selling price was $821,392, up by a nominal 0.1% year over year.
Breaking it down even more, in Toronto, sales activity for detached homes was down by -67.9% and the average price was $1,249,730, a decrease of -7.8%, whereas the average price of semi-detached homes increased by 4% to $1,096,437, despite activity being down by -54.8%. Sales activity for townhomes fell by -68.4%, though average prices increased by 3.5% to $784,899. And average condo prices saw a decrease of -4% to $612,300, with sales activity down by -69.9%.
Social distancing and economic uncertainty related to COVID-19 undeniably impacted sales and listings throughout the last month. As the province continues to roll out the first wave of slowly re-opening, we’ll see how this will reflect onto May’s market stats.