TRREB Market
April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.
Greater Toronto Area (GTA) REALTORSยฎ reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLSยฎ System in April 2024 โ down by 5% compared to April 2023. New listings were up by 47.2% over the same period. On a seasonally adjusted monthly basis, sales edged lower while new listings were up compared to March.
The MLSยฎ Home Price Index (HPI) Composite benchmark was down by less than 1% year-over-year. The average selling price was up by 0.3% to $1,156,167. On a seasonally adjusted month-over-month basis, the MLSยฎ HPI Composite was up by 0.4% and the average selling price was up by 1.5% compared to March.
Market Stats Quick Overview (Data compared to April 2023):
Total Sales: 7,114 โฌ5.0%
Avg Sold Price: $1,156,167 โฌ0.3%
Avg DOM: 19 days โฌ11.8%
New Listing: 16,941 โฌ47.2%
Source: https://trreb.ca
Waterloo Region
In April, a total of 692 homes were sold via the Multiple Listing Serviceยฎ (MLSยฎ) System of the Waterloo Region Association of REALTORSยฎ (WRAR). This represents an increase of 3.3% compared to the same period last year and a decline of 12.3% compared to the average number of homes sold in the previous 5 years for the same month.
Total residential sales in April included 406 detached (up 0.5% from April 2023), and 137 townhouses (up 15.1%). Sales also included 90 condominium units (down 5.3%) and 57 semi-detached homes (up 11.8%).
In April, the average sale price for all residential properties in Waterloo Region was $800,087. This represents a 0.3% increase compared to April 2023 and a 0.7% decrease compared to March 2024.
Market Stats Quick Overview (Data compared to April 2023):
Total Sales: 692 โฌ3.3%
Avg Sold Price: $800,087 โฌ0.3%
Avg DOM: 18 days โฌ12.5%
New Listings: 1,443 โฌ65.3%
Source: https://wrar.ca/
Oakville & Milton District
According to figures released by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales reported by OMDREB REALTORSยฎ decreased 10.8% for Single Family homes and 3.6% for Townhouse/Condo homes compared to April 2023. Median Sales Price increased 3.5% to $1,510,000 for Single Family homes but decreased 6.1% to $795,000 for Townhouse/Condo homes. The total number of new property listings increased 32.9% for Single Family homes and 54.8% for Townhouse/Condo homes compared to this time last year.
For homes processed through the OMDREB MLSยฎ system, the number of Days on Market increased 26.7% for Single Family homes but remained flat for Townhouse/Condo homes this April. Year over year, Inventory increased 70.6% for Single Family homes and 58.8% for Townhouse/Condo homes.
Source: https://www.omdreb.on.ca/
Mississauga Real Estate Board
The number of homes sold through the MLSยฎ System of the Mississauga Real Estate Board totaled 615 units in April 2024. This was a moderate decrease of 4.8% from April 2023.
Home sales were 11.7% below the five-year average and 29.5% below the 10-year average for the month of April. On a year-to-date basis, home sales totaled 2,047 units over the first four months of the year. This increased by 8.9% from the same period in 2023.
The MLSยฎ Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLSยฎ HPI composite benchmark price was $1,097,800 in April 2024, down modestly by 1.7% compared to April 2023.
Market Stats Quick Overview (Year to Date):โจ Total Sales: 2,039 โฌ8.63%โจ Avg Sold Price: $1,062,369 โฌ3.27%โจ Avg DOM: 37 days โฌ23.33%โจ New Listing: 4,174 โฌ28.67%
Source: https://www.mreb.ca/
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