April sales volume declined from the record heights recorded during March. While April sales volume was high on an historical basis, perhaps March set a peak and going forward, the market remains busy, but not as chaotic.
During April, the Toronto Regional Real Estate Board (TRREB) reported 13,663 residential sales, almost four times the number of transactions reported during April 2020. For perspective, if the Covid impacted sales numbers from April 2020 are excluded, April sales have averaged 10,000 transactions over the past ten years. That means April 2021 sales volume up by 36% on an historical basis.
Demand remains strong throughout the GTA, including rural areas and amongst all price segments. The average selling price within the GTA during April 2021 was $1,090,992, up by 33% compared to the sales recorded during April 2020 and very similar to the average sale price recorded last month.
Within Durham Region, TRREB reported 1,771 residential real estate transactions, which is 14.7% lower than the record level set during March, but on a year-to-date basis, sales are up 90% when compared to the first four months of 2020.
The average sale price recorded in Durham during April was $897,741, lower by just $3,600 when compared to the average price set last month. The average sale prices in Pickering and Clarington increased during April; Oshawa’s average sale price was virtually the same, while Ajax and Whitby average prices declined slightly.
Activity within the Durham market remains brisk and multiple offers are still very common, especially for entry level or starter houses. Houses priced above $1.5 million, still receive multiple offers, as many people are wisely moving up into larger homes. Looking forward, I expect the market will slowly moderate and prices should stabilize as consumes shift their focus from spending so much time inside their houses and condos to the outdoors to enjoy the summer.
If you are thinking of a move and want to take advantage of current real estate values, please contact me. I’ll give you sound, experienced advice. If you choose to sell, my staging services, digital marketing and social media promotions will get you plenty of exposure, ensuring that you achieve a fantastic sale price.