GTA April 2011 Mid Month Resale Housing Figures

TORONTO,
APRIL
18,
2011
‐‐ Greater
Toronto
REALTORS®
reported
4,444
sales
during
the
first
two
weeks
of
April
2011
–
a
three
per
cent
decrease
compared
to
the
first
two
weeks
of
April
2010.

The
number
of
new
listings
was
down
by
21
per
cent
compared
to
the
same
period
last
year.

“Sales
activity
was
quite
strong
during
the
first
two
weeks
of
April.

If
this
level
of
activity
is
sustained
for
the
remainder
of
the
month,
we
could
see
April
transactions
close
to
last
year’s
record
result.

Positive
economic
news
has
kept
households
confident
in
their
ability
to
purchase
and
pay
for
a
home
over
the
long
term,”
said
TREB
President
Bill
Johnston.

The
average
selling
price
for
firm
deals
reported
through
the
first
two
weeks
of
April
was
$483,165,
representing
a
12
per
cent
increase
over
the
average
price
of
$430,271
reported
during
the
same
period
last
year.

“The
number
of
homes
listed
for
sale
so
far
in
2011
has
been
below
expectations.

Market
conditions
have
tightened,
resulting
in
increased
competition
between
home
buyers
and
accelerating
rates
of
average
price
growth,”
said
Jason
Mercer,
TREB’s
Senior
Manager
of
Market
Analysis.

“The
strong
rate
of
price
growth
reported
for
the
first
two
weeks
of
April
should
entice
more
households
to
list
their
homes
for
sale.

This
would
result
in
more
balanced
market
conditions
and
more
moderate rates
of
price
growth,”
continued
Mercer.