Greater Toronto REALTORS® report 8,107 Resales in April

Steven — Tue, 12 May 2009 21:08:43 +0000

In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two thirds compared to January’s ten-year low.

“Conditions in the resale housing market have improved markedly this spring,” according to
TREB President Maureen O’Neill. “Home purchases have increased as households have taken
advantage of low interest rates and slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year.

“The rate of average price decline continued to diminish last month. This is due in large part to a
tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market
Analysis. “The level of sales relative to new listings increased in April.”

Source: TREB (Toronto Real Estate Board)

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TREB Update: 3,681 Transactions in First Half of April, 2009

Steven — Sat, 18 Apr 2009 13:15:11 +0000

TORONTO, April 17, 2009 – Greater Toronto REALTORS® reported 3,681 transactions in the first half of April, down seven per cent compared to 3,955 during the same period last year.

“In lock-step with the favorable March results, resale housing market conditions in the first half of April were markedly improved compared to the winter time,” said TREB President Maureen O’Neill.

“Households that were on the sidelines at the beginning of the year are now taking advantage of lower interest rates and lower home prices.”

The average price for MLS® sales was $383,161, down four per cent from $399,117 last year.