There was little relief for frustrated buyers in April despite an increase in active listings.
Inventory of single-family homes and condo apartments rose by eight per cent and 16 per cent, respectively, but active listings of townhouses dropped by eight per cent.
April saw sales of 590 single-family detached properties compared to 567 the previous month. In the condo apartment category, 133 units sold last month versus 136 in March 2021. As for townhouses, 106 units changed hands in April compared to 124 the previous month. (Since the pandemic began at this time last year, and the economic lockdown significantly slowed down the housing market – at least initially – year-over-year sales comparisons are not particularly helpful right now.)
It is no surprise that the heated housing market is impacting prices, which are rising throughout the board area. The benchmark price of a single-family home hit $659,300 last month, up by four per cent from March and 22 per cent higher than in April 2020. The benchmark price of an apartment reached $345,200, a year-over-year increase of 14 per cent and four per cent higher than in March. The benchmark price of a townhouse rose by 21 per cent year over year, climbing to $499,200, which was three per cent higher than in March.