It's hard to believe but at the mid-point in April, sales on the Toronto Real Estate Board were 10% higher than for the same period in 2013. But we ended the month with sales ahead by only 2%. More sobering, April sales were 3% lower than for April of 2012! The condo market mirrored the overall market for April. Condo sales in total were ahead by 3% but were lower in the main downtown market by 2%, and were flat in the Etobicoke market.
The major culprit is the lack of prime listings. Active listings are 8% lower than they were in April of last year and the problem is not getting better. New listings for the month were down 5% from April of last year. The only market with more listings is the condo market