Toronto Real Estate Board reports:

3,681 transactions in the first half of April.

Greater Toronto Realtors reported 3,681 transactions in the first half of April, down seven per cent compared to 3,955 during the same period last year. "In lock-step with the favorable March results, resale housing market conditions in the first half of April were markedly improved compared to the winter time," said TREB President Maureen O'Neill.

"Households that were on the sidelines at the beginning of the year are now taking advantage of lower interest rates and lower home prices." The average price for MLS® sales was $383,161, down four per cent from $399,117 last year. "The average home price in the GTA stabilized as resale market conditions tightened over the past two months," according to Jason Mercer, TREB's Senior Manager of Market Analysis. "Existing home sales increased relative to new listings", Mercer said.

This is great news as we have seen a slowing in the market over the past 8 months. Finally we are seeing a stimulation within the GTA. Why is this so? Due to the fact that there are still strong prices in the market and more inportant the lowest interest rate that we have seen in our lifetime.

Foe more information on buying or selling a home please contact Vlad and Olga at 416-878-0888 or email info@torontopropertytoday.com.