NEWS RELEASE 

  


GTA REALTORS® Release Monthly Resale Market Figures

 

TORONTO, May 3, 2012 -- Greater Toronto REALTORS® reported 10,350 transactions through the TorontoMLS System in April 2012.  This level of sales was 18 per cent higher than the 8,778 firm deals reported in April 2011.  The strongest sales growth was reported in the single-detached market segment, with transactions of this home type up by 22 per cent compared to a year ago.

 

“Interest in single-detached homes has been very high, both in the City of Toronto and surrounding regions.  Growth in single-detached listings has not kept up with demand, which means competition between buyers in this market segment increased.  With this in mind, it was no surprise that the strongest annual price increase was also experienced in the single-detached segment,” said Toronto Real Estate Board President, Richard Silver.

 

The average price for April 2012 transactions was $517,556 – up 8.5 per cent compared to April 2011.  While price growth was strongest for single-detached homes, the better-supplied condominium apartment segment experienced a more moderate annual rate of price growth, at four per cent.

 

“Monthly mortgage payments remain affordable for home buyers in the Greater Toronto Area.  While interest rates are generally expected to increase over the next two years, the extent and timing of rate hikes has been thrown into question by slower than expected economic growth in the first quarter of this year.  On net, borrowing costs are expected to remain a positive factor influencing home sales through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

 

 

Summary of TorontoMLS Sales and Average Price

 

 

April 1 - 30

 

 

2012

2011

 

 

Sales

Average Price

Sales

Average Price

 

 

City of Toronto ("416")

3,925

$568,436

3,426

$527,242

 

 

Rest of GTA ("905")

6,425

$486,473

5,352

$444,515

 

 

GTA

10,350

$517,556

8,778

$476,802

 

TorontoMLS Sales & Average Price  By Home Type

 

 

 

 

Sales

 

 

Average Price

 

 

 

416

905

Total

416

905

Total

Detached

1,465

3,743

5,208

831,214

579,278

650,147

Yr./Yr. % Change

22%

22%

22%

9%

9%

9%

Semi-Detached

451

691

1,142

581,034

393,889

467,796

Yr./Yr. % Change

15%

13%

14%

3%

7%

5%

Townhouse

423

1,184

1,607

423,062

364,099

379,619

Yr./Yr. % Change

6%

25%

19%

1%

8%

5%

Condo Apartment

1,534

637

2,171

360,807

289,819

339,978

Yr./Yr. % Change

9%

9%

9%

3%

7%

4%

 

 

 

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