Ontario Home Sales Edge Lower in April 2017
Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 24,973 units in April 2017, down 2.2% from a year earlier.
NEWLY LISTED UNITS:
New listings on the MLS® Systems of real estate boards in Ontario numbered 41,089 units in April 2017, an increase of 10.5% from a year earlier.
AVERAGE HOUSE PRICE:
The provincial average price for homes sold in April 2017 was a record $668,589 rising 24.1% from a year earlier.
MONTHS OF INVENTORY:
There were just 1.6 months of inventory at the end of April 2017, down from 2.0 months from the same time one year ago. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
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