The spring market is heating up with Members of the Toronto Real Estate Board (TREB) reporting 6,423 sales of single-family dwellings last month. April’s sales are up 16 per cent from 5,550 in March, and up 27 per cent from 5,070 recorded in April, 1996. Looking at prices, the average rose one per cent to $213,107 from $210,207 in March, and the median rose slightly to $185,000 from $183,650. Compared to April last year, the average was up seven per cent from $198,445 and the median also rose seven per cent from $173,000.

Commenting on April’s outstanding performance, TREB President Jerry England simply said ”I think the market speaks for itself.” TREB’s 1997 inventory continued to rise in April with 22,311 active listings at months’ end, up nine per cent from 20,459 in March.

TREB’s 6,423 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,368,788,641 and averaged $213,107. The median price was $185,000. Breaking down the total 2,381 sales were reported in TREB’s 27 West districts and averaged $197,337; 916 sales were reported in the 14 Central districts and averaged $308,688; 1,189 sales were reported in the 23 North districts and averaged $236,212; and 1,937 sales were reported in TREB’s 21 East districts and averaged $173,111. In addition to the sales of single-family dwellings, TREB Members reported 1,203 sales of properties of other types (P.O.T.) during April moving the total to 7,626. The dollar volume for properties of all types (P.A.T.) was $1,747,789,607, and the average price was $229,188.

Click to view Residential Market Update – April 1997