Greater Toronto REALTORS® report March Resale Market Figures
TORONTO, April 6, 2010 – Greater Toronto REALTORS® reported 10,430 sales through
the Multiple Listing Service® (MLS®) 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 2009."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."
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