Toronto home prices edge higher! The average home price in the Greater Toronto Area has jumped $1,582 in the last month alone, according to the Toronto Real Estate Board. The average home price in mid-April was $337,279, up from $335,697 in mid-March, according to TREB Toronto Real Estate Board, which tracks resale activity in the Greater Toronto Area. "Prices may continue to rise, but total inventory has expanded 14 per cent in April to 23,341 listings, and this will likely moderate the rate of increase," says TREB Toronto Real Estate Boeardpresident Ron Abraham. While the number of sales was up from last month, it's down from last year. Some 4,017 homes changed hands in the first half of April, 8 per cent more than the 3,702 sold during the first half of March. "Not only has the pace quickened over last month, sales totals are only two per cent off the record-setting pace of last April," Abraham says. "With sales nearly equivalent to the record, a month-end total of 9,000 single family home transactions is within reach," he adds. Meanwhile, figures released by the Greater Toronto Home Builders' Association show that sales of new highrise condominiums were up by 27 per cent in March compared to the same time a year ago while sales of low-rise homes was down 11 per cent. Some 1,697 new condominium units were sold in March this year, compared to 1,340 in March last year. And 2,836 low-rise units, including single-detached and semi-detached houses, were sold in March this year compared to 3,180 a year ago. "With 4,533 units sold, March was an exceptionally strong month for new home sales by any standard," says Julie Di Lorenzo, president of the Greater Toronto Home Builders' Association. "The new home market has been gathering steam throughout the first quarter and

the trend is expected to continue to edge higher

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