Toronto sales hit new monthly record

There were 11,303 home sales in the Greater Toronto Area in April, the highest level on record.

Sales were up 17 per cent from April last year and new listings were up by five per cent year-over-year.

Paul Etherington, president of the Toronto Real Estate Board, said: “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.”

Average sales prices increased by 10 per cent year-over-year to reach $635,932. Low-rise home prices increased more strongly than condos, but there was still healthy growth in the apartment sector. 

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