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GTA REALTORS(R) Release Monthly Resale Housing Figures

May 3 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 05/03/13 -- Greater Toronto Area REALTORS® reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis.

"Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year," said Toronto Real Estate Board President Ann Hannah.

"It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy," continued Ms. Hannah.

The average selling price for April 2013 transactions was $526,335 - up by two per cent in comparison to April 2012. The MLS® HPI Composite Benchmark Price was up by 2.9 per cent.

"The condominium apartment segment in the City of Toronto was a key driver of price growth in April, with both the average selling price and the MLS HPI apartment index up on a year-over-year basis. The improved condo sales picture, with Toronto sales down by only one per cent compared to last year, suggests that interest in condo ownership may be improving," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price April 1 - 30---------------------------------------------------------------------------- 2013 2012 ---------------------------------------------------- Average New Average New Sales Price Listings Sales Price ListingsCity of Toronto ("416") 3,591 $ 576,315 7,004 3,835 $ 568,179 6,399Rest of GTA ("905") 6,220 $ 497,480 11,266 6,186 $ 483,470 10,071GTA 9,811 $ 526,335 18,270 10,021 $ 515,888 16,470---------------------------------------------------------------------------- TorontoMLS Sales & Average Price By Home Type April 1 - 30, 2013 Average Sales Price 416 905 Total 416 905 Total -------------------------------------------------------Detached 1,264 3,675 4,939 852,090 588,784 656,170 Yr./Yr. % Change -11.8% 2.5% -1.6% 2.5% 2.2% 1.1%Semi-Detached 415 681 1,096 595,398 410,739 480,660 Yr./Yr. % Change -5.5% 1.3% -1.4% 2.4% 4.3% 2.7%Townhouse 398 1,123 1,521 433,710 375,269 390,562 Yr./Yr. % Change -3.6% -1.2% -1.9% 2.3% 3.5% 3.1%Condo Apartment 1,479 582 2,061 379,266 273,832 349,493 Yr./Yr. % Change -1.3% -7.3% -3.1% 5.6% -5.9% 3.1%----------------------------------------------------------------------------



Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 36,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

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Contacts:
Media Inquiries:
Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

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Source: Marketwire


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