TORONTO, April 17, 2009 - 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.

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.”

Source: Toronto Real Estate Board