GTA REALTORS(R) Report: Monthly Resale Housing Figures #Toronto #realestate

From TORONTO REAL ESTATE BOARD, May 5, 2010 – 09:30

GTA REALTORS(R) Report: Monthly Resale Housing Figures

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TORONTO (Marketwire) – Greater Toronto REALTORS(R) reported 10,898 sales through the Multiple Listing Service (MLS(R)) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.

“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”

The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009.

“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”

 

                  
Summary Of April Sales And Average Price

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April
2010 2009
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Average Average
Sales Price Sales Price
City of Toronto ("416") 4,310 $ 479,340 3,222 $ 421,470

Rest of GTA ("905") 6,588 $ 410,293 4,885 $ 362,009

GTA 10,898 $ 437,600 8,107 $ 385,641
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Source: Toronto Real Estate Board


Sales & Average Price By Home Type
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April-2010

Sales Average Price
416 905 Total 416 905 Total
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Detached 1,498 3,765 5,263 684,928 485,301 542,348
Yr./Yr. % Change 27% 30% 29% 14% 15% 14%

Semi-Detached 545 754 1,299 504,109 346,460 412,602
Yr./Yr. % Change 45% 26% 33% 20% 15% 19%

Townhouse 443 1,184 1,627 389,522 311,187 332,516
Yr./Yr. % Change 31% 41% 38% 19% 11% 13%

Condo Apartment 1,781 687 2,468 325,238 248,117 303,770
Yr./Yr. % Change 37% 64% 43% 14% 15% 13%
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Source: Toronto Real Estate Board

Greater Toronto REALTORS(R) 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.

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FOR FURTHER INFORMATION PLEASE CONTACT:

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

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SUBJECT: ANL

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About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

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