Greater Toronto Real Estate Market Trends for the first half of April, 2009

3681 TRANSACTIONS IN FIRST HALF OF APRIL

TORONTO, April 17, 2009 - Greater Toronto REALTORS® reported 3,681 transactions is the first half of April, down seven per cent compared to 3,955 during the same period last year.

"In lock-step with the favourable March results, resale housing market conditions in the first half of April were markedly improved compared to the winter time," said TREB President Maureen O'Neill.

"Households that were on the sidelines at the beginning of the year are now taking advantage of lower interest rates and lower home prices."

The average price for MLS® sales was $383,161 down four per cent from $399,117 last year.

"The average home price in the GTA stabilized as resale market conditions tightened over the past two months," according to Jason Mercer, TREB's Senior Manager of Market Analysis.  "Existing home sales increased relative to new listings."

April Mid-Month (Mid-April) Statistics Year-Over-Year Regional Breakdown

City of Toronto ("416"):  2009 Sales = 1,494     Avg Price = $412,987          2008 Sales = 1,514     Avg Price = $454,222

Rest of GTA ("905"):  2009 Sales = 2,187     Avg Price = $362,785          2008 Sales = 2,441     Avg Price = $370,274

GTA:  2009 Sales = 3,681     Avg Price = $383,161          2008 Sales = 3,955     Avg Price = $399,117