NEWS RELEASE 

 


GTA REALTORS® Report Mid-Month Resale Housing Market Figures

 

TORONTO, April 18, 2012 Greater Toronto REALTORS® reported 4,557 transactions through the TorontoMLS system during the first two weeks of April 2012.  This result represented an increase of almost seven per cent in comparison to the same period in April 2011.  The number of new listings grew over the same period, but by a lesser annual rate than sales, which means market conditions tightened compared to last year.

 

“Competition between buyers remained strong in many parts of the Greater Toronto Area during the first half of April, with many listings attracting a lot of attention.  Strong competition meant that, on average, sellers priced within market value range received offers that matched their asking prices within three weeks,” said Toronto Real Estate Board President Richard Silver.

 

The average selling price during the first two weeks of April was $506,954 – up by five per cent compared to the first half of April 2011.  The annual rate of price growth was stronger in the GTA regions surrounding the City of Toronto.

 

“Growth in listings has not kept up with growth in sales.  In the City of Toronto, new listings for low-rise home types during the first half of April were actually down compared to last year.  This helps explain why some of the tightest market conditions in the GTA can be found within the ‘416’ area code,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price

 

April 1 - 14

 

2012

2011

 

Sales

Average Price

Sales

Average Price

 

City of Toronto ("416")

1,731

$553,104

1,706

$541,773

 

Rest of GTA ("905")

2,826

$478,685

2,562

$445,019

 

GTA

4,557

$506,954

4,268

$483,693

 

TorontoMLS Sales & Average Price  By Home Type

Sales

Average Price

416

905

Total

416

905

Total

Detached

629

1,613

2,242

798,092

569,252

633,453

Yr./Yr. % Change

0%

10%

7%

3%

7%

5%

Semi-Detached

211

317

528

565,061

391,398

460,798

Yr./Yr. % Change

5%

5%

5%

-1%

6%

3%

Townhouse

182

536

718

422,735

365,321

379,874

Yr./Yr. % Change

-4%

22%

14%

1%

9%

5%

Condo Apartment

683

280

963

364,516

290,105

342,880

Yr./Yr. % Change

2%

0%

2%

4%

8%

5%

 

 

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