Toronto Real Estate Board

Toronto Real Estate Board

May 04, 2011 10:00 ET

GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - May 4, 2011) - Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011.

This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year's record result, April 2011 sales were in line with the average April sales level reported over the previous five years.

"Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities," said Toronto Real Estate Board (TREB) President Bill Johnston.

Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407.

"The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The strong price growth experienced in April should result in more listings and more balanced market conditions."

Summary Of April Sales And Average Price (2011)
20112010
SalesAve. PriceSalesAve. Price
City of Toronto ("416")3,519$528,4724,310$479,340
Rest of GTA ("905")5,522$444,8656,588$410,293
GTA9,041$477,40710,898$437,600
Sales & Average Price By Home Type (APRIL 2011)
SalesAverage Price
416905Total416905Total
Detached1,2473,1824,429759,875528,970593,982
Yr./Yr. % Change‐17%‐15%‐16%11%9%9%
Semi‐Detached4076271,034558,903368,843443,654
Yr./Yr. % Change‐25%‐17%‐20%11%6%8%
Townhouse4059781,383421,384337,633362,159
Yr./Yr. % Change‐9%‐17%‐15%8%8%9%
Condo Apartment1,4275992,026351,763270,896327,854
Yr./Yr. % Change‐20%‐13%‐18%8%9%8%

Greater 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 31,000 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.

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Contact Information

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