Toronto Real Estate Board Mid April Market Report

TORONTO, APRIL 18, 2011 ‐‐ TREB reported 4,444 sales for the first two

weeks of April 2011 –  three per cent down over  the same period of 2010.  New listings were down  21 per cent compared to 2010.

The average transaction price for  the first two weeks of April was $483,165,  a 12 per cent increase over the  $430,271 reported during the same period last year.

Market activity was still  strong reflecting the positive economic environment being enjoyed in the GTA. The 20 to 35 basis point increase in fixed mortgage rates seeming to have little to no effect on sales. The main constriction in the market place seems to be the dearth of listings as the 21% decrease in new listings would indicate. Prices remain healthy and competition between buyers for the properties  which are available is leading to numerous multiple offers. The 12% price increase is reflective of this and will hopefully tempt sellers into the Market.

                                                               2011                                                                      2010

                                                      Sales                     Average Price                             Sales             Average Price

City of Toronto ("416")           1,760                         $540,229                                1,837                $470,532

Rest of GTA ("905")                 2,684                          $445,746                                 2,764                $403,514

GTA                                            4,444                         $483,165                                4,601               $430,270