According to the Toronto Real Estate Board (TREB), there were 11,303 sales through the Multiple Listing Service (MLS) in April. Up by 17.0 per cent compared to April 2014.
April saw an average selling price of $635,932 - which is up by 10.0 per cent from the average selling price of $578,354 reported in April 2014.
“The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality, long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types. First-time buyers and existing homeowners remain very active in today’s market,” said Mr. Paul Etherington, President of the Toronto Real Estate Board.
The median price in April 2015 was $539,000.
The median price in April 2014 was $485,000.
“Demand for ownership housing was very high relative to the number of homes available for sale in April. This situation is not expected to change markedly as we move through the remainder of 2015. Until we experience a sustained period in which listings grow at a faster pace than sales, annual rates of home price growth will remain strong,” said Jason Mercer, TREB’s Director of Market Analysis.
*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).