One Minute Market Update: April - May 2024

Key Takeaways: 

  • Average sale price in April was up 6% month over month and 3% year over year.
  • Another big jump in sales activity as April saw a 12% increase in homes sold month over month but still 6% lower than this time last year. 
  • Inventory is continuing to pile on with a 35% increase in new homes month over month and 52% year over year. 
  • Out of all these listings, the vast majority are coming from condos. 
  • Running numbers after the first week of April, Toronto Freehold homes are at 2.2 Months Of Inventory (Sellers Market) and Toronto Condos are at 3.7 Months Of Inventory (Balanced Market).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.