Greater Toronto REALTORS reported 10,430 sales through the Multiple Listing Service in March, pushing total first quarter 2010 sales to 22,418 – the best result on record under the current Toronto Real Estate Board (TREB) boundaries. The average price for March transactions was $434,696. The average price for the first quarter was $427,948
"The strong rebound in the existing home market was one of the initial drivers of economic recovery," said TREB President Tom Lebour. "While we don't expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries."
The annual rate of growth for new listings continued to accelerate in March. The number of new listings grew by 42 per cent compared to March of 2008.
"The average home price in the GTA will continue to grow this year, but the pace will slow as we move through the spring," said Jason Mercer, TREB's Senior Manager of Market Analysis. "As growth in new listings starts to outstrip growth in sales, buyers will experience more choice, resulting in more sustainable single digit rates of average price growth."
| Summary Of March Sales And Average Price | ||||
| March | ||||
| 2010 | 2009 | |||
| Sales | Average Price | Sales | Average Price | |
| City of Toronto ("416") | 4,037 | $477,263 | 2,398 | $387,793 |
| Rest of GTA ("905") | 6,393 | $407,817 | 3,773 | $345,689 |
| GTA | 10,430 | $434,696 | 6,171 | $362,050 |
| Source: Toronto Real Estate Board |
| Sales & Average Price By Home Type | |||||||
| March-2010 | |||||||
| Sales | Average Price | ||||||
| 416 | 905 | Total | 416 | 905 | Total | ||
| Detached | 1,353 | 3,615 | 4,968 | $698,378 | $482,556 | $541,535 | |
| Yr./Yr. % Change | 55% | 70% | 65% | 35% | 19% | 24% | |
| Semi-Detached | 471 | 770 | 1,241 | $492,678 | $338,193 | $396,825 | |
| Yr./Yr. % Change | 70% | 62% | 65% | 14% | 14% | 14% | |
| Townhouse | 448 | 1,154 | 1,602 | $380,715 | $317,228 | $334,982 | |
| Yr./Yr. % Change | 93% | 70% | 76% | 15% | 17% | 17% | |
| Condo Apartment | 1,714 | 697 | 2,411 | $327,584 | $249,221 | $304,930 | |
| Yr./Yr. % Change | 74% | 77% | 75% | 18% | 14% | 17% | |
| Source: Toronto Real Estate Board |
Toronto REALTORS are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board
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