April showers don't dampen home sales

    TORONTO, April 18 /CNW/ - The GTA resale housing market got off to a
strong start in April, with mid-month sales coming in one per cent ahead of
mid-April 2006, Toronto Real Estate Board President Dorothy Mason announced
    The 4,175 transactions recorded in the first half of the month surpass
the mid-April total of 4,140 sales recorded in 2006. Meanwhile, year-to-date
figures for 2007 are nearly two per cent ahead of last year's pace.
    "We are very encouraged by the stability of the GTA market," Mrs. Mason
said. "Activity is strong yet controlled, and great economic fundamentals
continue to keep things moving in the right direction."
    The average price of a home in the GTA reached $372,169 in the first half
of April, up one per cent over the same timeframe in April 2006 when prices
averaged $366,878. The median price rose three per cent to $315,000. Active
listings were down five per cent from the same time in 2006, to 22,711.
    Strong activity across all housing types in the Beach (E02) helped push
overall sales up 44 per cent compared to mid-April of 2006.
    The condo boom in Mississauga's city centre (W15) was largely responsible
for an overall sales increase of 41 per cent in the area, compared to
mid-April of last year.
    Toronto's Forest Hill neighbourhood (C03) saw 54 per cent more overall
transactions than to the same point a year ago, fueled mostly by detached home
    In Bayview Village/Hillcrest Village (C15), overall transactions
increased by 36 per cent compared to the same timeframe in 2006.
    "Consumers are showing a lot of confidence in this market," Mrs. Mason
said. "Their investments are showing steady returns, yet the market is still
accessible to a variety of buyers."

    Toronto REALTORS(R) are passionate about their work. They adhere to a
strict code of ethics and share a state-of-the-art Multiple Listing Service.
Serving more than 25,000 Members in the Greater Toronto Area, the Toronto Real
Estate Board is Canada's largest real estate board. Greater Toronto Area open
house listings are now available on www.TorontoRealEstateBoard.com.

For further information:

For further information: Wendy Craven, Director, Public Relations,
Toronto Real Estate Board, Office: (416) 443-8159, 24-Hour Cell: (416)
277-7390, Email:wcraven@trebnet.com

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