Real Estate Market in Toronto

The Greater Toronto Area Realtors have just released the latest sales report for April 2013. Last month, 9,811 transactions were reported through the TorontoMLS system, which marks a 2.1% decrease in sales compared to April 2012.

On the other hand, a number of other sales indicators were in positive territory on a year-over-year basis. The number of new listings put on the market 18,270 (up 10.9%), the number of active listings 20,866 (up 13.5%), the average selling price $526,335 (up 2.0%) and the average days on the market (DOM) 23 (up 10.1%).

According to Toronto Real Estate Board president Ann Hannah:

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… It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy.

If you are looking to put your property on the market or to buy or sell your home, contact a Century 21 King’s Quay real estate expert today!

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David Cheung

David Cheung

Broker/Owner
CENTURY 21 King's Quay Real Estate Inc., Brokerage*
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