With over 11,000 sales in April 2015, the Toronto Real Estate Board (TREB) announced it is the highest sales result on record for the month, and a 17 percent overall increase in comparison to April 2014. Townhouse sales saw the largest increase in sales at 20.5 percent above April 2014’s sales amounts, followed by detached homes (a 17 percent increase) and condominiums (up 16.1 percent).
“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,” said TREB President Paul Etherington. “This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types.”
The most dramatic price growth in the GTA was for detached low-rise homes (up 11.4 percent compared to April 2014), followed by the better supplied townhouse and condominium segments (up 10.1 and 5.8 percent respectively). Jason Mercer, TREB’s Director of Market Analysis, asserts that “Demand for ownership housing was very high relative to the number of homes available for sale in April. This situation is not expected to change markedly as we move through the remainder of 2015.”
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