Toronto Real Estate Board

Toronto Real Estate Board

April 16, 2013 09:30 ET

GTA REALTORS® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - April 16, 2013) - Greater Toronto REALTORS® reported 4,260 sales through the TorontoMLS system during the first 14 days of April, representing a slight dip of less than one per cent compared to the same period in 2012. The reported sales figure did benefit from one extra working day compared to last year, because Good Friday in 2012 fell in April.

"April sales to date, which were driven by strong growth in single-detached home sales in the regions surrounding Toronto, represent a positive start to the spring market. Because market conditions have remained tight, we continue to see average price growth well above the rate of inflation for many home types," said Toronto Real Estate Board President Ann Hannah.

The average selling price for April mid-month sales was $527,397 - up 4.3 per cent compared to $505,617 in 2012. Rates of average price growth were similar for the City of Toronto and the surrounding regions under the TREB market area.

"The annual rate of price growth so far in April is actually above TREB's forecast of 3.5 per cent for 2013. Strong growth in the average condo apartment price in the City of Toronto was a key driver in this regard," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price April 1 - 14
2013 2012
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,565 $ 578,327 3,405 1,638 $ 553,032 2,809
Rest of GTA ("905") 2,695 $ 497,821 5,365 2,655 $ 476,364 4,771
GTA 4,260 $ 527,397 8,770 4,293 $ 505,617 7,580
TorontoMLS Sales & Average Price By Home Type April 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
Detached 561 1,596 2,157 847,793 589,985 657,036
Yr./Yr. % Change -3.4 % 6.8 % 3.9 % 5.0 % 3.7 % 3.4 %
Semi-Detached 184 287 471 599,147 411,948 485,079
Yr./Yr. % Change -3.2 % -2.7 % -2.9 % 4.2 % 5.4 % 4.8 %
Townhouse 167 506 673 405,690 374,598 382,313
Yr./Yr. % Change -3.5 % -1.9 % -2.3 % -4.5 % 2.8 % 0.7 %
Condo Apartment 640 247 887 386,602 271,777 354,627
Yr./Yr. % Change -4.3 % -9.5 % -5.8 % 5.9 % -6.6 % 3.2 %

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 36,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

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