Both of these figures point, of course, to the "Sellers Market".

May 5, 2015 - Toronto and GTA / Greater Toronto Area Realtors® today released the resale residential MarketWatch report for April, 2015, which reflected continuing robust market conditions across-the-board. In fact, the only "negative" numbers in the report were the Total Active Listings, down 10.1%, and the number of days it took to sell a home in Toronto and the GTA, also 10% lower. Both of these figures point, of course, to the "Sellers Market". [All figures are Year-over-Year comparisons, unless otherwise noted.]

The total number of MLS® sales of all housing types in all Toronto Real Estate Board areas rose 17.0% in April to 11,303 units compared to April, 2014's 9,660 units. The overall average sale price rose an even 10% from $578,354 to $635,932.

Jason Mercer, the Toronto Real Estate Board's Director of Market Analysis, said, "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. Until we experience a sustained period in which listings grow at a faster pace than sales, annual rates of home price growth will remain strong."

Looking more closely at the numbers, sales of Detached homes in Metro Toronto were up 13.8%, to 1,468, at an average sale price of $1,056,114. April sales of Detached homes in the balance of the GTA were up 18.2, to 4,214, at an average price of $729,961, up 13.1%.

Increases in sales of Condominium Apartment sales were strong in all areas, though the increase in average selling price did continue to lag that of other home types, up 5.8% overall. The number of sales was 1,706 in Metropolitan Toronto, up 13.9%, and 745 in the rest of the GTA, up 21.5%. Average sale price in Toronto was $407,612, up 5.8%, and $318,471 in the rest of the GTA, up 7.4% [for an overall rise of 5.8% as noted above].

Taking the Total Active Listings figure and dividing it by the Total Sales we get an indicated "Forward Inventory" of just 1.52 months.

Homes "sold 10% faster" this April compared to last April at 18 Days On the Market ["DOM"] compared to 20 days one year ago.

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