TORONTO, May 3, 2013 – Greater Toronto Area REALTORS® reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis.
"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," said Toronto Real Estate Board President Ann Hannah.
"It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy," continued Ms. Hannah.
The average selling price for April 2013 transactions was $526,335 – up by two per cent in comparison to April 2012. The MLS® HPI Composite Benchmark Price was up by 2.9 per cent.