Mid-Month Resale Housing Figures GTA Area

GTA REALTORS® Release 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.

For More info, check out htis link:

http://communications3.torontomls.net/newstand/news/2011/mn1104/pdf/nr_mid_month_0411.pdf