Monday, May 17, 2010

April Experiences Record Number of Buyers and Sellers

Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) 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.”


Source: Toronto Real Estate Board