APRIL HOME SALES DOWN FROM RECORD-HIGH IN MARCH, PRICES STILL RISING

May 17, 2021

By Bob Komsic

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The number of homes sold last month in Canada fell by 12.5% compared to March, which was the busiest month on record.
However, sales for April were still a record for the month and up 256% compared with a year ago when COVID-19 hit.
Toronto realtor Meray Mansour says the market was still hot in April though cooler than in the previous months.
She says homes are still selling quickly in neighbourhoods like the Beaches, Leslieville, High Park and the Junction.
”There are still multiple offers,” according to Mansour.
”Maybe before it was like, 30 offers.  Now they’re getting like six, so it’s still crazy.”
The average price of a Canadian home sold in April was $696,000, which was 41.9% higher than the year before.
But the Canadian Real Estate Association says the average price can be misleading as it’s skewed by sales in cities such as Toronto and Vancouver.
But even CREA’s House Price Index, which adjusts for different markets and types of housing, rose 23.1% — its highest annual increase on record dating back to 2005.
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