Toronto, April 18, 2011
Greater Toronto REALTORS® reported 4,444 sales during the first two
weeks of April 2011 – a three per cent decrease compared to the first two weeks of April 2010. The
number of new listings was down by 21 per cent compared to the same period last year.
“Sales activity was quite strong during the first two weeks of April. If this level of activity is sustained for
the remainder of the month, we could see April transactions close to last year’s record result. Positive
economic news has kept households confident in their ability to purchase and pay for a home over the
long term,” said TREB President Bill Johnston.
The average selling price for firm deals reported through the first two weeks of April was $483,165,
representing a 12 per cent increase over the average price of $430,271 reported during the same period
“The number of homes listed for sale so far in 2011 has been below expectations. Market conditions
have tightened, resulting in increased competition between home buyers and accelerating rates of
average price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
“The strong rate of price growth reported for the first two weeks of April should entice more households
to list their homes for sale. This would result in more balanced market conditions and more moderate
rates of price growth,” continued Mercer.