Ontario home prices remained stable in April, continuing the trend that started in March, which ended a five-month decline that began last summer, according to the Canadian Real Estate Association.
Year-over-year, the average single-family home in Ontario sold for $950,800 in April, up 1.8% from $934,300 in April 2023. These figures are seasonally adjusted and do not account for inflation.
“After a long hibernation, the spring market is now officially underway," said CREA chair James Mabey.
Buyers are exploring lower-priced markets that have seen significant corrections in the past 24 months and are within commuting distance to the GTA. For instance, in Cambridge in April, single-family home prices increased by 4.8%, condos by 3.3%, and townhouses by 4.0% compared to April 2023, based on seasonally adjusted numbers.