TORONTO, ONTARIO--(Marketwired - May 4, 2016) - Toronto Real Estate Board President Mark McLean announced that there were 12,085 sales reported through TREB's MLS® System in April 2016. This result, which represented a record for the month of April, was up by 7.4 per cent in comparison to April 2015.

For the TREB market area as a whole, annual sales growth was experienced for all major home types except semi-detached houses. In the City of Toronto, sales were down for detached and semi-detached houses as well as townhouses on a year-over-year basis. This dip in sales in the '416' area code was due to a lack of low-rise listings. Many would- be buyers were not able to find a home that met their needs.

"Demand remained strong for all types of ownership housing. This suggests that Canadians continue to see the value in investing in homeownership, and on May 17, I encourage all homeowners to celebrate with us on National Real Estate Day," said Mr. McLean.

"While April's sales result represented a new record for sales, that number could have been even higher if we had benefitted from more supply. In the City of Toronto in particular, some households have chosen not to list their home for sale because of the second substantial Land Transfer Tax and associated administration fee. The lack of available inventory, coupled with record sales, continued to translate into robust annual rates of price growth," continued Mr. McLean.

Home selling prices continued to trend upward in April. The MLS® Home Price Index Composite Benchmark was up by 12.6 per cent year-over-year. The average selling price was up by 16.2 per cent. The higher growth rate reported for the average home price, as compared to the MLS® HPI, points to a greater share of high-end home sales this year compared to last.

"As we move into the busiest time of the year, in terms of sales volume, strong competition between buyers will continue to push home prices higher. A greater supply of listings would certainly be welcome, but we would need to see a number of consecutive months in which listings growth outpaced sales growth before market conditions become more balanced," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price
	April 1 - 30, 2016
		2016			2015
	Sales	Average Price	New Listings	Sales	Average Price	New Listings
City of Toronto ("416")	4,248	766,472	6,155	4,057	690,658	7,144
Rest of GTA ("905")	7,837	724,235	10,097	7,197	605,336	10,894
GTA	12,085	739,082	16,252	11,254	636,094	18,038

TorontoMLS Sales & Average Price By Home Type
		April 1 - 30, 2016
		Sales			Average Price
		416	905	Total	416	905	Total
Detached		1,401	4,661	6,062	1,257,958	881,413	968,437
	Yr./Yr. % Change	‐4.0%	11.2%	7.2%	18.9%	20.7%	18.9%
Semi-‐Detached		371	766	1,137	901,159	572,318	679,618
	Yr./Yr. % Change	‐10.8%	2.8%	‐2.1%	23.8%	16.9%	18.2%
Townhouse		440	1,402	1,842	611,899	514,774	537,974
	Yr./Yr. % Change	‐2.0%	4.8%	3.1%	11.0%	14.8%	13.4%
Condo Apartment		1,997	812	2,809	436,545	343,439	409,631
	Yr./Yr. % Change	17.4%	9.4%	15.0%	7.0%	7.8%	7.6%

April 2016 Year-Over-Year Per Cent Change in the MLS® HPI
	Composite (All Types)	Single-Family Detached	Single-Family Attached	Townhouse	Apartment
TREB Total	12.64%	14.47%	14.00%	12.20%	6.85%
Halton Region	12.51%	12.82%	14.94%	4.62%	-
Peel Region	12.62%	12.61%	13.08%	11.84%	10.21%
City of Toronto	9.86%	12.28%	11.27%	11.80%	6.43%
York Region	16.69%	18.31%	17.11%	14.93%	6.62%
Durham Region	16.57%	16.75%	17.47%	18.14%	2.36%
Orangeville	18.39%	18.90%	17.12%	-	-
South Simcoe
County1	17.31%	17.55%	17.84%	-	-

¹ South Simcoe includes Adjala-‐Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

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