TORONTO, May 3, 2013 — Greater Toronto Area REALTORS reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two % in comparison to 10,021 transactions in April 2012. Both new listings 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 housing market this year, April sales came in quite robust in contrast to last year. As we move through the spring and into the 2nd 1/2 2013, the demand for home ownership should continue to firm-up relative to last year," announced Toronto Real-estate Board President Ann Hannah.

"It has been about a year since the federal government enacted tougher mortgage lending laws. Hannah. The MLS HPI Composite Baseline Price was up by 2.9 percent.

The average selling price for April 2013 transactions was $526,335 up by 2 per cent in comparison to April 2012.

"The condo apartment segment in the City of Toronto was a key driver of price expansion in April, with both the average selling price and the MLS HPI studio index up on a year-over-year basis. The improved condo sales picture, with Toronto sales down by only 1 per cent matched against last year, implies that interest in apartment possession could be improving," said Jason Mercer, TREB’s Senior Manager of Market Research.