A housing bubble in Ontario? Not according to reported 10,350 transactions through the TorontoMLS System [VIDEO]

Greater Toronto REALTORS® reported 10,350 transactions through the TorontoMLS System in April 2012. This level of sales was 18 per cent higher than the 8,778 firm deals reported

in April 2011.

The strongest sales growth was reported in the single-detached market segment, with transactions of this home type up by 22 per cent compared to a year ago.

“Interest in single-detached homes has been very high, both in the City of Toronto and surrounding regions. Growth in single-detached listings has not kept up with demand, which means competition between buyers in this market segment increased. With this in mind, it was no surprise that the strongest annual price increase was also experienced in the single-detached segment,” said Toronto Real Estate Board President, Richard Silver.

The average price for April 2012 transactions was $517,556 – up 8.5 per cent compared to April 2011. While price growth was strongest for single-detached homes, the better-supplied condominium apartment segment experienced a more moderate annual rate of price growth, at four per cent.

“Monthly mortgage payments remain affordable for home buyers in the Greater Toronto Area. While interest rates are generally expected to increase over the next two years, the extent and timing of rate hikes has been thrown into question by slower than expected economic growth in the first quarter of this year. On net, borrowing costs are expected to remain a positive factor influencing home sales through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price
	April 1 - 30
	2012	2011
	Sales	Average Price	Sales	Average Price
City of Toronto ("416")	3,925	$568,436	3,426	$527,242
Rest of GTA ("905")	6,425	$486,473	5,352	$444,515
GTA	10,350	$517,556	8,778	$476,802
TorontoMLS Sales & Average Price By Home Type
	Sales			Average Price
	416	905	Total	416	905	Total
Detached	1,465	3,743	5,208	831,214	579,278	650,147
Yr./Yr. % Change	22%	22%	22%	9%	9%	9%
Semi-Detached	451	691	1,142	581,034	393,889	467,796
Yr./Yr. % Change	15%	13%	14%	3%	7%	5%
Townhouse	423	1,184	1,607	423,062	364,099	379,619
Yr./Yr. % Change	6%	25%	19%	1%	8%	5%
Condo Apartment	1,534	637	2,171	360,807	289,819	339,978
Yr./Yr. % Change	9%	9%	9%	3%	7%	4%

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 34,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.

Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com