Home sales hit nationwide record for April

Average home price was $508,097, up 13% from a year ago

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OTTAWA – The Canadian Real Estate Association says home sales in April set a new record for the month as they gained 10.3 per cent compared with a year ago.

The industry organization says sales in April were up in about 70 per cent of all local markets compared with a year ago, boosted by markets in B.C. and the Toronto region.

Compared with March, sales were up 3.1 per cent in April.

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The national average price for homes sold in April was $508,097, up 13.1 per cent compared with a year ago.

Excluding the Greater Vancouver and Greater Toronto markets, the average price was $369,222, up 8.7 per cent from April 2015.

Newly listed homes were down 0.2 per cent in April compared with March. The national sales-to-new listings ratio rose to 64.5 per cent in April, the ratio’s tightest reading since October 2009.

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