APRIL MARKET REVIEW

GTA REALTORS® R elease A pril S tats Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB’s MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent. “While average selling prices have not climbed back to last year’s record peak, April’s price level represents a substantial gain over the past decade. Recent polling conducted for TREB by Ipsos tells us that the great majority of buyers are purchasing a home within which to live. This means these buyers are treating home ownership as a long-term investment. A strong and diverse labour market and continued population growth based on immigration should continue to underpin long-term home price appreciation,” said Mr. Syrianos. “The comparison of this year’s sales and price figures to last year’s record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types. Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Average Price: $1,098,911 Mississauga Average Price: $1,338,062 Oakville

Sales: 256 Mississauga

153

Sales :

Oakville

Sale-to-List Price Ratio: 97% Mississauga Sale-to-List Price Ratio: 97% Oakville

Average Days on Market: 21 Mississauga Average Days on Market: 24 Oakville

M ississauga /O akville M arket W atch A pril 2018

*S ource : T oronto real estate board (TREB) regional housing market tables , A pril 2018 ** figures taken from toronto real estate board for detached homes in mississauga & oakville

R EGAN TEA M T H E • REAL ESTATE PROFESSIONALS •

Made with FlippingBook Learn more on our blog