Market Recap April 2013

May 22, 2013 - Updated: May 22, 2013

According to the Toronto Real Estate Board (TREB), there were 9,811 sales through the Multiple Listing Service (MLS) in April. This is a 2 per cent decrease from April 2012.

April saw an average selling price of $526,335 - which is up by 2 per cent from the average selling price of $515,888 reported in April 2012.

"Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year,” said Toronto Real Estate Board President Ann Hannah. “It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy,” continued Ms. Hannah.

The median price in April 2013 was $445,000.
The median price in April 2012 was $434,000.

“The condominium apartment segment in the City of Toronto was a key driver of price growth in April, with both the average selling price and the MLS HPI apartment 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 condo ownership may be improving," said Jason Mercer, TREB's Senior Manager of Market Analysis.

*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).


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