GTA REALTORS(R) Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - April 18, 2012) - Greater Toronto REALTORS® reported 4,557 transactions through the TorontoMLS system during the first two weeks of April 2012. This result represented an increase of almost seven per cent in comparison to the same period in April 2011. The number of new listings grew over the same period, but by a lesser annual rate than sales, which means market conditions tightened compared to last year.

"Competition between buyers remained strong in many parts of the Greater Toronto Area during the first half of April, with many listings attracting a lot of attention. Strong competition meant that, on average, sellers priced within market value range received offers that matched their asking prices within three weeks," said Toronto Real Estate Board President Richard Silver.

The average selling price during the first two weeks of April was $506,954 - up by five per cent compared to the first half of April 2011. The annual rate of price growth was stronger in the GTA regions surrounding the City of Toronto.

"Growth in listings has not kept up with growth in sales. In the City of Toronto, new listings for low-rise home types during the first half of April were actually down compared to last year. This helps explain why some of the tightest market conditions in the GTA can be found within the '416' area code," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price
		April 1 - 14
		2012					2011
				Average					Average
		Sales		Price			Sales		Price
City of Toronto
("416")		1,731		$	553,104		1,706		$	541,773
Rest of GTA ("905")		2,826		$	478,685		2,562		$	445,019
GTA		4,557		$	506,954		4,268		$	483,693

TorontoMLS Sales & Average Price By Home Type
			Sales											Average Price
			416			905			Total			416			905			Total
Detached			629			1,613			2,242			798,092			569,252			633,453
	Yr./Yr. % Change		0	%		10	%		7	%		3	%		7	%		5	%
Semi-Detached			211			317			528			565,061			391,398			460,798
	Yr./Yr. % Change		5	%		5	%		5	%		-1	%		6	%		3	%
Townhouse			182			536			718			422,735			365,321			379,874
	Yr./Yr. % Change		-4	%		22	%		14	%		1	%		9	%		5	%
Condo Apartment			683			280			963			364,516			290,105			342,880
	Yr./Yr. % Change		2	%		0	%		2	%		4	%		8	%		5	%

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 34,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

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