Here are the end of April resale stats for Toronto & the GTA. The May mid-month stats are posted on my website, www.gtamoves.com or www.vitopirri.com .
Greater Toronto REALTORS® report 8,107 Resales in April.
Toronto, May 6, 2009 - In April 2009, Greater Toronto REALTORS® reported 8,107 sales - down seven percent from April 2008. Wile April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two-thirds compared to January's ten-year low.
"Conditions in the resale housing market have improved markedly this spring," according to TREB President Maureen O'Neill. "Home purchases have increased as household have taken advantage of low interest rates and slight lower home prices."
The average price for April transactions was $385,641 - down three per cent from last year.
"The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market," stated Jason Mercer, TREB's Senior Manager of Market Analysis. "The level of sales relative to new listings increased in April."
Summary of April Sales and Average Price 2009 -2008
City of Toronto ("416"): 2009 Sales = 3,222 Avg Price = $421,470 2008 Sales = 3,467 Avg Price = $446,781
GTA: 2009 Sales = 8,107 Avg Price = $385,641 2008 Sales = 8,762 Avg Price = $398,687
Rest of GTA ("905"): 2009 Sales = 4,885 Avg Price = $362,009 2008 Sales = 5,295 Avg Price = $370,274
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