According to the latest release of mid-month market figures from the Toronto Real Estate Board, home sales during the first 14 days of April 2013 declined by less than one per cent to 4,260 sales, although it should be noted that in 2012 Good Friday fell in April and as such there was one more working day this year.
“April sales to date, which were driven by strong growth in single-detached home sales in the regions surrounding Toronto, represent a positive start to the spring market,” said the president of the Toronto Real Estate Board, Ann Hannah. “Because market conditions have remained tight, we continue to see average price growth well above the rate of inflation for many home types.”
The average selling price for these first two weeks of April was $527,397, which is up 4.3 per cent from the same time during last year, while this amount of growth was the same or similar for other areas surrounding Toronto.
“The annual rate of price growth so far in April is actually above TREB’s forecast of 3.5 per cent for 2013, said Jason Mercer, the senior manager of market analysis for the Toronto Real Estate Board. “Strong growth in the average condo apartment price in the City of Toronto was a key driver in this regard.”
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