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4601 Sales In First Two weeks Of April 2010

4,601 sales through the Multiple Listing Service® (MLS®) during the first two weeks of April

 

Greater Toronto REALTORS® reported 4,601 sales through the Multiple Listing Service® (MLS®) during the first two weeks of April.

 

This represented a 25 per cent increase compared to the 3,681 sales recorded during the

same period in 2009. New listings increased by 48 per cent annually to 9,512.

 

“The fact that annual growth in new listings outstripped growth in sales suggests that the

GTA existing home market is becoming better supplied "Home owners are reacting to strong sales and price growth by listing their homes in greater numbers. They are confident they will receive offers in line with their asking price."

 

The average price for April mid-month transactions was $430,271 – up 12 per cent

compared to the average of $383,361 recorded during the first 14 days of April 2009.

 

The average annual rate of price increase has declined and we are shortly going to see a

return to sustainable single-digit rates of growth  As home buyers experience more choice in the marketplace, there will be less upward pressure on the average selling price in the GTA.

Published Monday, April 19, 2010 11:16 AM by Varun Mathur

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