GTA REALTORS® Report April Monthly Resale Housing Figures [VIDEO]

Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year’s record
result, April 2011 sales were in line with the average April sales level reported over the previous five years.

“Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities,” said
Toronto Real Estate Board (TREB)President Bill Johnston.

Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407.

“The number of listings has been below expectations so far this year.
Increased competition between home buyers has led to an accelerating annual rate of price growth,”said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The strong price growth experienced in April should result in more listings and more balanced market conditions.”

In April, the median price was $402,000, from the $373,000 recorded during April of 2010.

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Watch Market Summary Videos for this April's Residential Report



 


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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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