Toronto Real Estate Board

Toronto Real Estate Board

April 18, 2011 11:51 ET

GTA Realtors® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - April 18, 2011) - Greater Toronto REALTORS® reported 4,444 sales during the first two weeks of April 2011 – a three per cent decrease compared to the first two weeks of April 2010. The number of new listings was down by 21 per cent compared to the same period last year.

"Sales activity was quite strong during the first two weeks of April. If this level of activity is sustained for the remainder of the month, we could see April transactions close to last year's record result. Positive economic news has kept households confident in their ability to purchase and pay for a home over the long term," said TREB President Bill Johnston.

The average selling price for firm deals reported through the first two weeks of April was $483,165, representing a 12 per cent increase over the average price of $430,271 reported during the same period last year.

"The number of homes listed for sale so far in 2011 has been below expectations. Market conditions have tightened, resulting in increased competition between home buyers and accelerating rates of average price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"The strong rate of price growth reported for the first two weeks of April should entice more households to list their homes for sale. This would result in more balanced market conditions and more moderate rates of price growth," continued Mercer.

Summary Of April Sales And Average Price
April 1st to April 14th
20112010
SalesAverage PriceSalesAverage Price
City of Toronto ("416")1,760$540,2291,837$470,532
Rest of GTA ("905")2,684$445,7462,764$403,514
GTA4,444$483,1654,601$430,271
Source: Toronto Real Estate Board
Sales & Average Price By Home Type
April 1st to April 14th 2011
SalesAverage Price
416905Total416905Total
Detached6551,5522,207772,721530,171602,156
Yr./Yr. % Change2%-1%0%15%12%13%
Semi-Detached208313521563,989368,354446,458
Yr./Yr. % Change-6%-5%-6%14%6%10%
Townhouse194458652416,086337,231360,694
Yr./Yr. % Change6%-7%-3%11%9%10%
Condo Apartment683286969351,596268,639327,111
Yr./Yr. % Change-11%4%-7%10%8%8%
Source: Toronto Real Estate Board

Contact Information

  • For Media Inquiries:
    Toronto Real Estate Board
    Mary Gallagher, Senior Manager Media Relations
    Office: (416) 443-8158
    maryg@trebnet.com