My friend Doug Hannan just went thru the Toronto Real Estate Board statistics and it was another record month! Sales are still booming and the inventory levels are starting to rise a little bit. He has put some numbers together for you so you will have this information about 7 days before TREB releases it to the media.
In April there were 10,889 sales reported to TREB! That hits another record for April, so sales are chugging along quite nicely. As of yesterday there were 22,659 homes for sale. Inventory has jumped from 18,431 last month which is a 22% increase. This may seem like a huge jump, but it’s not uncommon between March and April. There are still plenty of sales to support the inventory level with the exception of certain areas and price ranges.
We are clearly experiencing one of the most interesting real estate markets ever. While other economies and marketplaces are suffering, Toronto just seems to be oblivious to it all. We should be thankful that we live in an area that has one of the strongest economies and real estate markets in the world.
We will likely experience this activity for quite a while yet and I’m anticipating there won’t be much of a slow down over the summer months.
The Harmonized Sales Tax still has an unknown impact on how sales will react. Stay Tuned. Need to reach me? david@davidpylyp.com 905 361 3387
Enjoy a little sunshine!
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