April 16, 2013 — Greater Toronto REALTORS reported 4,260 sales through the TorontoMLS system in the first Fourteen days of April, representing a slight dip of less than one percent compared with the same period in 2012. The reported sales figure did benefit from one additional working day matched against last year, because Good Friday in 2012 slipped in April.
"April sales to date, which were driven by robust expansion in single-detached home sales in the regions surrounding Toronto, represent a positive beginning to the spring market. Because market conditions have remained tight, we continue seeing average cost growth well above the rate of inflation for many home types," said Toronto Property Board President Ann Hannah.
The average selling price for April mid-month sales was $527,397 up 4.3 percent compared against $505,617 in 2012.
"The annual rate of price expansion so far in April is basically above TREB’s outlook of 3.5 per cent for 2013. Robust expansion in the average condo apartment price in the City of Toronto was a key driver in this regard," said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.