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Toronto area home price index rises 31.7 per cent in April

THE CANADIAN PRESS | posted Wednesday, May 3rd, 2017

sold over asking

A ‘sold over asking’ sign sits in front of a detached house in Toronto on Feb. 7, 2016. THE CANADIAN PRESS IMAGES/Rachel Verbin

New figures released Wednesday morning show that Toronto-area home prices continued to soar by double digits in April but the number of sales was down slightly compared with the same month last year.

The Toronto Real Estate Board says the average price in the area rose to $920,791 and its price index rose 31.7 per cent.

That was a slightly slower rate of increase than in March, when TREB’s price index rose 33.2 per cent year-over-year.

The board says there was a dramatic increase in the number of new listings, which rose by 33.6 per cent year-over-year.

But it also found the total number of sales in the Greater Toronto Area in April was down by 3.2 per cent from a year ago.

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