GTA housing market showing signs of tightening: Toronto real estate board

Toronto's housing market continued to tighten last month as prices edged up four per cent from March and sales moved closer to the level they were at last April, the Toronto Regional Real Estate Board revealed Wednesday.

April's average price tumbled 7.8 per cent to $1,153,269, but was roughly four per cent higher than the $1,108,499 the average buyer paid in March.

Sales for the month hit 7,531, down 5.2 per cent from a year ago but up about nine per cent from March.

Those sales outpaced new listings, which were down by over a third from a year before, fuelling more competition between buyers who were too hesitant to buy homes earlier this year.