SINGLE FAMILY RESIDENTIAL BREAKDOWN
April 2011
Tight Market Results in Strong Price Growth in April
7.5 %
TORONTO - May 4, 2011 – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent 2.3 % 7.0 % annually to $477,407. % 0.3 % 21.5
Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year’s record result, April 2011 sales were in line with the average April sales level reported over the previous five years.
0.1 %
“The number of listings has been below expectations so far this year. Increased competition between home 8.5 % buyers has led to an accelerating annual rate of price growth,” said Jason Mercer, TREB’s Senior 12.0 % 48.3 % Manager of Market Analysis. “The strong price growth experienced in April should result in more listings and more balanced market conditions.”
“Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities,” said Toronto Real Estate Board (TREB) President Bill Johnston.
Median Price In April, the median price was $402,000, from the $373,000 recorded during April of 2010.
Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month
Average
Median
400000 300000 200000 100000 0
2001
2002
2003 2004
2005
2006
2007
2008
11.4 %
49.0 %
Dwelling Type
Sales
Detached Single Detached 4,429 Semi-Detached Semi Detached
Condo Condo T.H. Townhouse Condo Apt. Apt Condo
99 $500,000
1,034 101 $400,000 674 99 $305,000 2,026
Link Link
% Median
98 $300,000
145 100 $387,000
Attached/Row Att/Row/Twnhouse 709 Co-op Co-op Apt. Apt Detached Det Condo Condo
99 $372,000
15
98 $205,000
9
98 $285,000
Housing Market Indicators AuguNovApr. 2010 Apr. 2011 %Change Sales New Listings Active Listings* Days on Market
10,898 20,683 22,951 21
9,041 (-17%) 14,494 (-30%) 17,466 (-24%) 22 (5%)
* All figures for single-family dwellings.
Inside District Map.............................................................. 2 Price Category Breakdown......................................2 East District.............................................................. 3 West District............................................................. 6 Toronto District.......................................................10 North District...........................................................12 Annual Summary....................................................16 Single Family Comparison.....................................16
Annual Average and Median Price
500000
1.6 % 7.8% % 0.2 0.1 %
22.4 %
2009
2010
2011