Forma Condo Review.House prices in Toronto, Canada soared by 33%. Home sales in the greater Toronto area hit an all-time high in April, according to the Toronto Regional Real Estate Bureau.Please Visit: Forma Condo Review to Get Your VVIP Registration Today!
But with buyers and sellers experiencing a surge in infection rates and the resumption of blockades, the market began to slow from the fierce pace earlier this year.
According to the latest figures released by the Toronto area Real Estate Bureau (TRREB) on Wednesday, the Greater Toronto area (Greater Toronto Area) sold 10, 3663 homes in April, an increase of 362% from the 2957 sold in April last year. Last April was the first full month of novel coronavirus’s attack. But housing sales are down 12.7% from March this year, and the housing market is less hot. The real estate bureau also said that the number of newly listed houses listed in April increased by 237% compared with the same period last year, but decreased by 8.4% compared with March this year.
Meanwhile, the average selling price of a house is C $1,09992 (about 5.797 million yuan), up 33% from 820000 in April last year, but down from C $1,0997,565 in March this year. The fall in house prices between March and April this year contrasts sharply with the usual rise in average house prices at this time in previous years. House prices usually rise in March and April, marking the beginning of a buoyant spring market.
In addition, the average price of a lakeside resort house soared 13.5% to C $498111.
As for the rise in independent home prices during the epidemic, industry insiders believe that part of the increase is due to the paralysis of real estate caused by the spring blockade, a trend that will not abate any time soon. Demand and prices for independent homes and holiday homes will continue to grow in 2021.
RE/MAX, a Canadian real estate company, also expects the Canadian real estate market to continue to rise in 2021, and all types of houses will rise, not just in detached houses, with Toronto prices rising by another 6% in 2021.
