April 2020 Market Watch
Saturday May 09th, 2020Share
April 2020... this month will go down in history. The affects of the Covid 19 lockdown were odd. Yes, the market slowed down but prices remained stable. Real Estate transactions continued to happen, completed transactions were closing and people were moving. The listing inventory was unseasonably low, of course a direct reaction to the Covid lockdown, down 64.1% from April 2019. The total residential transactions as expected were down -67% from last year. The most interesting stat is the price of residential real estate in the GTA went up .01% over April 2019 & the sales to new listing ratio were 48%, a slight slide from last years 52%. Covid 19 pandemic has affected the real estate market but not as much as we expected. So far, the May market is feeling a slight uptick of activity. Let's wait and see what the next few weeks brings?