{"id":533,"date":"2024-05-10T16:37:36","date_gmt":"2024-05-10T16:37:36","guid":{"rendered":"https:\/\/www.themillsteam.ca\/blog\/?p=533"},"modified":"2024-05-10T16:38:43","modified_gmt":"2024-05-10T16:38:43","slug":"april-2024-market-stats","status":"publish","type":"post","link":"https:\/\/www.themillsteam.ca\/blog\/april-2024-market-stats\/","title":{"rendered":"April 2024 Market Stats"},"content":{"rendered":"

TORONTO, ONTARIO, May 3, 2024 \u2013 April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year. Greater Toronto Area (GTA) REALTORS\u00ae<\/sup>\u00a0reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS\u00ae<\/sup>\u00a0System in April 2024 \u2013 down by five per cent compared to April 2023. New listings were up by 47.2 per cent over the same period. On a seasonally adjusted monthly basis, sales edged lower while new listings were up compared to March.<\/p>\n

\"\"\u201cListings were up markedly in April in comparison to last year and last month. Many homeowners are anticipating an increase in demand for ownership housing as we move through the spring. While sales are expected to pick up, many would-be home buyers are likely waiting for the Bank of Canada to actually begin cutting its policy rate before purchasing a home,\u201d said TRREB President Jennifer Pearce. The MLS\u00ae<\/sup>\u00a0Home Price Index (HPI) Composite benchmark was down by less than one per cent per cent year-over-year. The average selling price was up by 0.3 per cent to $1,156,167. On a seasonally adjusted month-over-month basis, the MLS\u00ae<\/sup>\u00a0HPI Composite was up by 0.4 per cent and the average selling price was up by 1.5 per cent compared to March.<\/p>\n

\"\"<\/p>\n

\u201cGenerally speaking, buyers are benefitting from ample choice in the GTA resale market in April. As a result, there was little movement in selling prices compared to last year. Looking forward, the expectation is that lower borrowing costs will prompt tighter market conditions in the months to come, which will result in renewed price growth, especially as we move into 2025,\u201d said TRREB Chief Market Analyst Jason Mercer. \u201cAll levels of government have announced plans and stated that they are committed to improving affordability and choice for residents. However, more work is needed on alignment to achieve these goals, whether we\u2019re talking about bringing enough housing online to account for future population growth or finding the right balance between government spending and combatting inflation. We can\u2019t have policies in opposition. Housing policy alignment is key to achieving sustained, tangible results,\u201d said TRREB CEO John DiMichele.<\/p>\n","protected":false},"excerpt":{"rendered":"

TORONTO, ONTARIO, May 3, 2024 \u2013 April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. …<\/p>\n","protected":false},"author":2,"featured_media":534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"yoast_head":"\nApril 2024 Market Stats - The Mills Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themillsteam.ca\/blog\/april-2024-market-stats\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"April 2024 Market Stats - The Mills Team\" \/>\n<meta property=\"og:description\" content=\"TORONTO, ONTARIO, May 3, 2024 \u2013 April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.themillsteam.ca\/blog\/april-2024-market-stats\/\" \/>\n<meta property=\"og:site_name\" content=\"The Mills Team\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-10T16:37:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T16:38:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.themillsteam.ca\/blog\/wp-content\/uploads\/2024\/05\/MillsTeam_April_SocialStats_800x800_May03_2024_1-e1715359111279.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1504\" \/>\n\t<meta property=\"og:image:height\" content=\"1063\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"The Mills Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Mills Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/\"},\"author\":{\"name\":\"The Mills Team\",\"@id\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/#\\\/schema\\\/person\\\/680b84a2359db5efec297c4147e191e4\"},\"headline\":\"April 2024 Market Stats\",\"datePublished\":\"2024-05-10T16:37:36+00:00\",\"dateModified\":\"2024-05-10T16:38:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/\"},\"wordCount\":375,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/MillsTeam_April_SocialStats_800x800_May03_2024_1-e1715359111279.png\",\"articleSection\":[\"News & Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/\",\"url\":\"https:\\\/\\\/www.themillsteam.ca\\\/blog\\\/april-2024-market-stats\\\/\",\"name\":\"April 2024 Market Stats - 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