Greater Toronto REALTORS® reported 10,350 transactions through the TorontoMLS System in April 2012. This level of sales was 18 per cent higher than the 8,778 firm deals reported The strongest sales growth was reported in the single-detached market segment, with transactions of this home type up by 22 per cent compared to a year ago.
“Interest in single-detached homes has been very high, both in the City of Toronto and surrounding regions. Growth in single-detached listings has not kept up with demand, which means competition between buyers in this market segment increased. With this in mind, it was no surprise that the strongest annual price increase was also experienced in the single-detached segment,” said Toronto Real Estate Board President, Richard Silver.
The average price for April 2012 transactions was $517,556 – up 8.5 per cent compared to April 2011. While price growth was strongest for single-detached homes, the better-supplied condominium apartment segment experienced a more moderate annual rate of price growth, at four per cent.
“Monthly mortgage payments remain affordable for home buyers in the Greater Toronto Area. While interest rates are generally expected to increase over the next two years, the extent and timing of rate hikes has been thrown into question by slower than expected economic growth in the first quarter of this year. On net, borrowing costs are expected to remain a positive factor influencing home sales through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
| Summary of TorontoMLS Sales and Average Price | ||||||
| April 1 - 30 | ||||||
| 2012 | 2011 | |||||
| Sales | Average Price | Sales | Average Price | |||
| City of Toronto ("416") | 3,925 | $568,436 | 3,426 | $527,242 | ||
| Rest of GTA ("905") | 6,425 | $486,473 | 5,352 | $444,515 | ||
| GTA | 10,350 | $517,556 | 8,778 | $476,802 | ||
| TorontoMLS Sales & Average Price By Home Type | ||||||
| Sales | Average Price | |||||
| 416 | 905 | Total | 416 | 905 | Total | |
| Detached | 1,465 | 3,743 | 5,208 | 831,214 | 579,278 | 650,147 |
| Yr./Yr. % Change | 22% | 22% | 22% | 9% | 9% | 9% |
| Semi-Detached | 451 | 691 | 1,142 | 581,034 | 393,889 | 467,796 |
| Yr./Yr. % Change | 15% | 13% | 14% | 3% | 7% | 5% |
| Townhouse | 423 | 1,184 | 1,607 | 423,062 | 364,099 | 379,619 |
| Yr./Yr. % Change | 6% | 25% | 19% | 1% | 8% | 5% |
| Condo Apartment | 1,534 | 637 | 2,171 | 360,807 | 289,819 | 339,978 |
| Yr./Yr. % Change | 9% | 9% | 9% | 3% | 7% | 4% |
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 34,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.
Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com
Watch Video of Jason Mercer -
Senior Manager, Market Analysis,
discusses the Market Watch Report for April 2012.
Hosted by Shannon Kelly - Social Media Manager.
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