GTA Monthly Resale Housing Figures Released

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Thinking of investing in the GTA?

Marketwire has just released their April 2015 monthly resale numbers as reported by the Greater Toronto Real Estate Board. A total of 11,303 sales were reported for the month, up 17 percent from April 2014 with new listings up over the same period by only 5 percent. 

The overall selling price was up 10 per cent to $635,932 and was strongest for low-rise home types, followed by a healthy condominum apartment segment bolstered by price growth above the rate of inflation. The MLS® Home Price Index (HPI) composite was up by only 8.4 percent for for same period.

Was does this mean for the GTA market? Simply put, it means that a greater share of higher-end homes changed hands in 2015 over 2014. Demand was ownership housing was high relative to the inventory available for sale, a situation that is forecast to stay stable for the remainder of the year. 

When asked about the results, Real Estate Board President Paul Etherington had this to share: “The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types. First-time buyers and existing homeowners remain very active in today’s market.”

 

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