May 5, 2010
There were 10,898 sales in April in the GTA. Sales increased by 34 per cent since last April and new listings increased 59 per cent in the same period. Both numbers represent records for the month of April within TREB boundaries. Prices were up 13% since last April to $437,600.
But these records were expected and, essentially, business as usual. The President of TREB, Tom Lebour, said:
“The GTA resale market is functioning properly. Sales are high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth” TREB
Lebour went on to note that the latter half of 2010 will experience more sustainable rates of growth as the market becomes more balanced when borrowing costs increase.