Toronto Real Estate Board

Toronto Real Estate Board

April 06, 2010 10:20 ET

Greater Toronto REALTORS® Report March Resale Market Figures

TORONTO, ONTARIO--(Marketwire - 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 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. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

Contact Information

  • For Media/Public Inquiries:
    Toronto Real Estate Board
    Mary Gallagher, Manager Media Relations
    (416) 443-8158
    maryg@trebnet.com