April marked the first full month of the pandemic in 2020, so when we compare April 2021 to last year, we see rather unusual numbers.
The number of homes sold in April 2021, as recorded on TRREB’s MLS system, was up by 362.1% compared to April 2020. There were 2,957 sales in April 2020 and 13,663 in April 2021. This significant difference is explained by the initial reaction to the pandemic in 2020, in which many people temporarily froze their buying and selling activities as they adjusted to the new world. Others had already bought or already sold a home, and either needed to sell their existing home or needed to find their next home, and so activity did not cease altogether in 2020. Since then, the real estate market picked back up and is as busy as ever. If we compare April 2021 to April of 2019 (arguably, a more “normal” year) which had 9,042 sales, the April 2021 sales were up by 51.1%.
The number of new listings was up by 237.0% vs 2020 (or 21.0% vs 2019), another indication of increased activity.
The average home price was up by 33.0% vs 2020 which shows how much the market has been in favour of sellers, generally speaking.
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