Toronto home sales up this month as market stays tight

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Home sales for the first 14 days of April have increased in the Greater Toronto Area but new listings remain low. The mid-month market analysis from the Toronto Real Estate Board shows that there were 4,635 sales from April 1-14, an increase of 3.4 per cent from a year earlier. New listings though were 4.6 per cent lower than the same period in 2014. TREB president Paul Etherington said that if more homes were available, they would almost certainly sell: “In many neighbourhoods, listings remain scarce, particularly for ground-oriented home types like singles, semis and towns.  Given the amount of pent-up demand in the market today, sales growth would accelerate further if more homes were listed for sale.” Most areas of the GTA are a seller’s market and prices are up by 7 per cent from a year ago with an average selling price of $625,121.

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