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% increase com­pared to April 2009. There were also 20,683 new list­ings in April – a 59% annual increase.

Toronto Real Estate Sales in April

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% com­pared to the aver­age of $385,641 recorded in April 2009. In April, the median price was $373,000, from the $330,000 recorded dur­ing April of 2009.

Toronto Real Estate Prices in April

“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.”

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