TORONTO, May 3, 2013 -- Greater Toronto Area REALTORS reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of 2 % in comparison to 10,021 transactions in April 2012. Both new lists in the month and active listings at the end of April were up on a year-over-year basis.
"Despite the headwinds we have experienced in the home market this year, April sales came in quite robust in comparison to last year. As we move through the spring and into the 2nd half 2013, the demand for home ownership should continue to firm-up relative to last year," declared Toronto Real-estate Board President Ann Hannah. It is practical to reckon that some homes, who originally put their call to buy on hold, are once more looking to buy," continued Ms. Hannah.
The average selling price for April 2013 transactions was $526,335 up by 2 % compared to April 2012. The MLS HPI Composite Baseline Price was up by 2.9 per cent.
"The condo flat segment in the Town of Toronto was a key driver of price expansion in April, with both the average selling price and the MLS HPI loft index up on a year-over-year basis. The improved condo sales picture, with Toronto sales down by only one per cent compared to last year, suggests that interest in apartment possession could be improving," said Jason Mercer, TREB's Senior Manager of Market Research.
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