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.
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.