April 2016 Mid-Month Statistics From Toronto Real Estate Board

Realtors from the Greater Toronto Area reported 5,537 sales through TREB's MLS System during the first two weeks (first 14 days) of this month. This figure represented more than a 20 per cent increase in sales from April 2015. In April 2015, 4,604 sales were reported.

In the City of Toronto and surrounding regions double-digit annuals rates of sales growth were common for many market segments.

An exception to note was the number of sales of semi-detached homes in the '416' area code were down in comparison to last year. The most likely explanation for the decrease in sales for this type of home is that there were a lack of listings rather than a lack of demand.

Yearly rates of price growth were stronger for low-rise home types in the City of Toronto and surrounding areas.

The average selling price of a home for the first 14 days of April was $730,330. This figure represented a year-over-year jump of 16.9 per cent in comparison to the same period last year. Last year, the average price of a home was $624,821 during the first two weeks of April.

Summary of Sales and Average Price for April 1st - April 14th

1) Number of Sales

City of Toronto (416): 1,899 Rest of GTA (905): 3,638 GTA: 5,537

2) Average Price

City of Toronto (416): $761,142 Rest of GTA (905): $714,246 GTA: $730,330

3) New Listings

City of Toronto (416): 3,015 Rest of GTA (905): 4,736 GTA: 7,751

Reference: Toronto Real Estate Board