The Toronto Real Estate Board (TREB) reported on May 3 that the total number of transactions in April slipped 3.2 percent from a year ago.
Meanwhile, the average price for all properties in the Greater Toronto Area (GTA) in April rose by 24.5 percent year-over-year to $920,791. In March, prices skyrocketed by 33.2 percent.
Listings shot up 33.6 per cent from a year ago—the greatest year-over-year increase in at least seven years, TREB said.
Jason Mercer, TREB’s director of market analysis, said it is premature to say whether the influx of homeowners putting their properties up for sale is the result of soaring prices, which make it tempting to cash out, or of the province’s new measures.
TD economists and others have suggested it may be higher.
, Ontario Finance Minister
