Toronto Real Estate Board

Toronto Real Estate Board

April 16, 2010 09:55 ET

Greater Toronto REALTORS® Report Mid-April Resale Market Figures

TORONTO, ONTARIO--(Marketwire - April 16, 2010) - Greater Toronto REALTORS® reported 4,601 sales through the Multiple Listing Service® (MLS®) during the first two weeks of April.

This represented a 25 per cent increase compared to the 3,681 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to 9,512.

"The fact that annual growth in new listings outstripped growth in sales suggests that the GTA existing home market is becoming better supplied," said Toronto Real Estate Board President Tom Lebour.

"Home owners are reacting to strong sales and price growth by listing their homes in greater numbers. They are confident they will receive offers in line with their asking price."

The average price for April mid-month transactions was $430,271 – up 12 per cent compared to the average of $383,361 recorded during the first 14 days of April 2009.

"The average annual rate of price increase has declined and we are shortly going to see a return to sustainable single-digit rates of growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"As home buyers experience more choice in the marketplace, there will be less upward pressure on the average selling price in the GTA."

Summary Of April Sales And Average Price 
 
    April    
  2010   2009  
    Average   Average
  Sales Price Sales Price
City of Toronto        
("416") 1,837 $470,532 1,494 $412,987
Rest of GTA ("905") 2,764 $403,514 2,187 $362,785
GTA 4,601 $430,271 3,681 $383,161
 
Source: Toronto Real Estate Board

 

Sales & Average Price By Home Type
             
       April-10      
       Sales        Average Price  
         416  905  Total    416    905    Total
TYPE            
Detached        641  1,575  2,216    $674,358    $473,708    $531,932
  Per cent Change        18%  21%  20%    17%    11%    13%
Semi-Detached        222  330  552    $493,756    $346,365    $405,642
  Per cent Change        21%  15%  17%    18%    15%    17%
Condo Townhouse        183  490  673    $375,554    $308,167    $326,491
  Per cent Change        22%  39%  34%    18%    12%    13%
Condo Apartment        768  276  1,044    $320,673    $248,431    $301,574
  Per cent change        27%  33%  28%    10%    12%    11%
               
Source: Toronto Real Estate Board

Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

Contact Information

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    Toronto Real Estate Board
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