Sales of homes in the Greater Toronto Area jumped 10.1% in April, according to the Toronto Real Estate Board.
The average selling price was $577,898, compared to $524,868 in the same period last year.
“Price growth for the GTA as a whole was driven by the single-detached, semi-detached and townhouse market segments in the City of Toronto," says Jason Mercer, TREB's senior manager of market analysis.
And total home sales amounted to 9,706, up from April 2013's 9,535 transactions.
“April marked the beginning of the spring market, during which time we generally see the highest monthly sales totals in a given year," explains TREB president Dianne Usher.
However, sales levels would have been higher if there was a greater supply available.