Toronto Real Estate Market Update

All Time Record In April

The Toronto Real Estate Market continued its remarkable Spring in April, with an all-time record setting 9,168 sales re4corded through the Toronto MLS system, TREB President Cynthia Lai reported today. "The resale market in the first four months of 2004 has been the best ever recorded," Ms. Lai commented. "The monthly sales total is up 25 percent from the 7,307 recorded last April, and up 12 percent from the 8,181 sales recorded in April 2002, which was our best ever April. It is also up one percent over last month's previous all-time record of 9,076 sales. The good news just goes on and on."

Prices rose in April, up four percent to $321,131 from the $307,155 recorded in March... ;"Fortunately," Ms. Lai noted, "inventory rose to 20,633 listings, up two percent over last April. Though an increased number of homes on the market should mitigate price increases, to an extent, demand continues to outweigh supply. In addition, there are certain types of houses that remain relatively affordable. For example, prices of condominium apartments have increased only about four percent over this time last year, whereas the market as a whole has increased about twice that much."