Matthew Hua Realtor

The Toronto Regional Real Estate Board (TRREB) has released the sales figures for April. 13,663 transactions reported through the local MLS represent a new monthly sales record for April, making it the tenth consecutive month with record setting sales. Bucking the seasonal trend, the number of sales declined by 12.7% in April when compared to March. That said, this is likely a function of housing inventory, rather than a reflection on demand. Though new listings exceeded the... 10-year average by 18.3%, they were down 8.4% from March. With only 11,668 Active Listings on the market, the supply of housing now sits at 0.85 months or roughly 26 days. Listings continue to sell quickly. The average sale in April took place within only ten days on market, although this varies with the housing type and region. Single detached homes sold in ten days on average for all of TRREB’s districts, but in only six days in Toronto’s W01 and W02, and in eight days in Ajax and Oshawa. Semi-detached are selling, on average, in eight days, and townhomes are selling in nine days. Condo-apartments are selling in 12 days, a slightly longer period, but still transacting at a rapid pace. These intense ‘seller’s market’ conditions are placing upward pressure on home prices. April’s average sales price of $1,090,992 was an increase of 33% year-over-year. The MLS Home Price Index (HPI) Composite Benchmark, which serves as a better indicator of annual inflation, was up 17.8%. The biggest increase in value was found in single detached homes, which are up 24.51% for April. Looking at price by category, detached homes sold for an average of $1,387,629, representing a year-over-year increase of 41.3%. The average price for semi-detached homes was $1,068,923 (+23.6%) and townhomes rose to $857,574 (+25.9%). The average price of condos was $691,791, up 19.6% from a year earlier. Worth noting, condo prices in the 905 were up 25.1% on average. The market for real estate remains strong across the GTA. Though the pace may be slightly less frenetic than in March, supply remains tight, prices are rising, and homes are selling quickly. DM me for more info !

CONGRATS to another one of my client on their investment property at 1 Square Phillips! Reason #2 to invest in 1 Square Phillips: YOY appreciation in the area has been over 20%! If you're considering real estate as a vehicle for your investment and have more questions, feel free to DM me! :) #2of_ #42ndFloor #Greatchoice #investor #realestate #goodvibes #crazyviews #montreal #eastview #condo #realtor #investmentinrealestate

CONGRATS to my client on their investment property at 1 Square Phillips! With over 300,000 immigrants coming to Montreal, investing there is like investing in Toronto several years back! #37thFloor #Greatchoice #investor #realestate #goodvibes #crazyviews #montreal #eastview #condo #realtor

Got my shot! Here I am thinking in my head "They are giving this to people over 35! They are giving the shots to us young guns!" The teens are probably saying..."Old people get it first before they give it to us young guns" bahahajhaha #stillfeellikeim20 #Foreveryoung #covidshot #gotmyshot

MARKET COMMENTARY MARCH 2021 For a ninth consecutive month, the Toronto Regional Real Estate Board (TRREB) has recorded a new monthly record for real estate sales. With 15,652 sales reported through the MLS, this represents a 97% increase from last year. Of course, March 2020 will be widely remembered as the beginning of the Covid-era in North America. During the first 14 days of March 2021, there were 6,504 sales reported, up 41% compared to the pre-COVID period in March 2...020; From March 15th to the 31st, there were 9,148 sales reported. This is up 174% compared to the COVID period of March 2020, and a stark reminder of the initial impact COVID-19 had on the housing market and overall economy. Sales were up for all major housing types. Single detached homes led the way with an annual increase of 103.5%. Of the 7,557 detached homes sold, 6,127 were in the 905 regions. Sales of semi-detached homes were up 98.5% with 1,479 sales, and townhomes rose 90.5% with 2631 sales. Condominium sales were up 91.3% with 3,821 sales. Rising demand for ground-level housing outside the City continues to be a trend to monitor. In March, roughly 79% of all low-rise sales occurred in the 905. Housing supply continues to be a key statistic to follow. Though New Listings rose by 57.3%, Active Listings are down 0.7% from the same period last year. At the end of the month, there were only 10,603 Active Listings, representing a 0.7-month housing supply. Homes are selling as fast as they come to market. And it varies with housing type and region. Single detached homes sold in 9 days on average for all of TRREB, but in only 7 days in Newmarket, 6 days in Toronto’s C01 district and 5 days in Orangeville. Semi-detached and townhomes are selling in 7 days on average. Condo-apartments are selling in 14 days. These ‘seller’s market’ conditions are putting upward pressure on home prices. March’s average sales price of $1,097,565 was an increase of 21.6% year-over-year. The MLS Home Price Index (HPI) Composite Benchmark was up 16.5%. Looking at price by category, detached homes sold for an average of $1,402,849, representing a year-over-year increase of 26.6%. The average price for semidetached homes was $1,045,519 (+17.5%) and townhomes rose to $870,553 (+20.7%). The average price of condos was $676,052, up 2.6% from a year earlier. Worth noting, condo prices in the 905 were up 13.5% on average. #realestate #stats #boomingmarket #homes #shortsupply #excessivedemand