GTA REALTORS(R) Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - May 16, 2012) - Greater Toronto REALTORS® reported 5,142 transactions through the TorontoMLS System during the first 14 days of May 2012. This result was up by more than 14.5 per cent in comparison to the first 14 days of May 2011. The number of new listings continued to grow at a slower pace than sales - up 13 per cent year-over-year to 8,749.

"Annual growth in sales was experienced across the GTA for all major home types in the first half of May. Sales growth was strongest for the condominium apartment segment. While the condo market has generally been the best supplied market over the past year, we have continued to see enough demand to exert moderate upward pressure on average selling prices in this market segment," said Toronto Real Estate Board President Richard Silver.

The average selling price for transactions in the first 14 days of May was $517,242 - up by six per cent compared to the same period in 2011.

"A shortage of listings in the low-rise segment of the market has resulted in a lot of competition between buyers and above average annual rates of price growth. Tight market conditions are expected to remain in place for the balance of 2012," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price
	May 1 - 14
	2012			2011
	Sales	Average Price		Sales	Average Price
City of Toronto ("416")	1,959	$	572,159	1,763	$	547,659
Rest of GTA ("905")	3,183	$	483,443	2,725	$	448,126
GTA	5,142	$	517,242	4,488	$	487,225

TorontoMLS Sales & Average Price By Home Type
		May 1 - 14, 2012
		Sales						Average Price
		416		905		Total		416		905		Total
Detached		691		1,832		2,523		835,522		576,845		647,692
	Yr./Yr. % Change	6	%	17	%	14	%	5	%	8	%	6	%
Semi-Detached		225		343		568		595,962		401,779		478,700
	Yr./Yr. % Change	2	%	13	%	8	%	8	%	12	%	9	%
Townhouse		238		590		828		465,499		359,475		389,951
	Yr./Yr. % Change	17	%	17	%	17	%	15	%	5	%	8	%
Condo Apartment		784		326		1,110		370,224		291,673		347,154
	Yr./Yr. % Change	18	%	18	%	18	%	4	%	9	%	5	%

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 34,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

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