In the first half of April, the Toronto-area resale housing market showed a modest increase in transactions compared to the same time period a year ago, the Toronto Real Estate Board reported.
Realtors documented 4,140 sales during the first half of April, up 3 percent from the same period a year ago.
“The market followed its best first quarter ever with another solid performance to start this month,” said TREB President John Meehan. “The spring season is a very important indicator for the overall health of the market and it is very encouraging to see this kind of performance.”
TREB also reported that the average price of a home in mid-April was $366,878, 2 percent higher than the mid-March figure of $360,285, and up 9 percent over the $337,206 recorded in mid-April of 2005.
A few neighborhoods across the Greater Toronto Area showed particularly high mid-April sales totals in comparison to mid-April figures from last year:
- In the East, Scarborough’s Wexford/Dorset Park area saw 71 percent more overall transactions compared to mid-April 2005, helped by a jump in condominium activity.
- In the West, overall sales activity in Rexdale was 62 percent higher than totals recorded midway through April of a year ago.
- Condominiums made up the majority of transactions in Toronto’s Downtown East neighborhood, as the area saw 60 percent more overall transactions in the first half of April compared to a year ago.
- North of Toronto, the Markham West/Langstaff neighborhood showed an overall increase of 89 percent compared to mid-April of last year, fueled by strong sales of detached homes.
The Toronto Real Estate Board serves more than 23,000 Realtors throughout the Greater Toronto area.