Toronto real estate sales reach new heights in April
May 4, 2007 – Toronto real estate activity in April powered the spring market to never before seen heights, with 9,452 sales recorded during the month, Toronto Real Estate Board President Dorothy Mason announced today.
“With four months passed, 2007 sales to-date are up 5% over last year,” Ms. Mason observed. “We are on track for another near-record year.” The Bowmanville area (E17) saw a sales increase of 43%, driven by sales of detached and link houses.
Sales in Cooksville (W15) rose 26% on the basis of strong movement in all housing types, and especially condo apartments. Bayview Village (C15) and environs recorded a 50% increase in sales over April 2006.
Transactions in most housing types were up over last year. Finally, the South end of Richmond Hill experienced a 30% bump in resale transactions, due to detached and condo apartment sales.
“With April’s results now in,” Ms. Mason added, “it is clear that the Toronto real estate market still holds excellent opportunities for both first time and move-up buyers.”
Best Day Ever, Best Month Ever!Â
With 581 sales reported on April 30, the highest single day total ever documented, April’s total transactions reached an astounding 9,452, the best single-month total ever recorded, Toronto Real Estate Board President Dorothy Mason announced today. “The Greater Toronto Area’s real estate market has showed sustained strength and these phenomenal numbers bode well for the remainder of this year’s spring market.”
Average prices climbed 3% in April, to $379,025 from last April’s $366,683. “Despite the torrid sales pace,” Ms. Mason said.
“Overall price increases are holding at marginally above the inflation rate, which means that potential first-time buyers are not being pushed out of the market.”