April condo sales decline by 30.4% across GTA

Home sales in the Greater Toronto Area dropped 23.3% year-over-year in April, with average prices falling 4.1% to $1,107,463. Condo sales declined 30.4%, and prices dropped 6.8%. New listings rose 8.1%, increasing buyer choice and leading to lower prices. Despite current supply growth, demand and immigration will require more home construction, while pre-construction sales have decreased, risking future shortages.