Source: The Canadian Real Estate Association. Monthly Stats Report.
Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 25,811 units in April 2016, an increase of 8.4 per cent from a year earlier. This was the best month of April on record, and the first time that home sales have surpassed 25,000 in that month.
Nationally, home sales activity also rose 10.3 per cent from year-ago levels in April 2016.
Provincial year-to-date home sales were running 10.6 per cent above the first quarter of 2015. The 72,835 homes that have traded hands so far this year represent the best start to any year on record.
The provincial average price for homes sold in April 2016 was a record $550,608, rising 12.1 per cent from a year earlier.
The national average price, by comparison, rose 13.1 per cent on a year-over-year basis to $508,097.
The year-to-date average price for Ontario was $518,364, rising 11.9 per cent from a year earlier.
New listings on the MLS® Systems of real estate boards in Ontario numbered 37,633 units in April, a decrease of 10.6 per cent from a year earlier.
Active residential listings numbered 51,875 units at the end of April, down 23.2 per cent from one year earlier. Supply has now fallen to the lowest level in over a decade.
There were just two months of inventory at the end of April 2016, down from 2.8 months at the same time one year ago and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The value of all home sales in the province totalled $14 billion in April 2016, an increase of 21.5 per cent from April 2015. The dollar volume of all home sales in Canada was up 24.7 per cent on a year-over-year basis.
Sales of all property types in Ontario numbered 27,119 units in April, up 8.8 per cent from April 2015. The value of those sales amounted to $14.3 billion, rising 21.7 per cent from a year earlier.
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