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Heapsestrin Real Estate Team

March 2017 Market Statistics

Written On April 7, 2017

Here is a look at the Central Toronto real estate market statistics for March.

Toronto Real Estate Board announced that the GTA reported 12,077 residential sales in March 2017 which is a 17.7 percent increase compared to the 10,260 sales reported in March 2016. There was an increase in new listings on a year-over-year basis at 17,051, a 15.2 per cent increase compared to March 2016. The Greater Toronto Area market conditions continue to tighten as the rate of new listings sales growth continues to be lower than the rate of sales growth.
Policymakers have not implemented any knee-jerk policies regarding the GTA housing market, however, different levels of government are holding consultations with market stakeholders. Strong competition with Buyers continued to cause high levels of price growth in all major market segments.
According to Jason Mercer, Toronto Real Estate Board`s Director of Market Analysis, indicates that a substantial period of months in which listings growth is greater than sales growth will be required to bring the GTA housing market back into balance. For the TREB market as a whole, the average selling price was up by 33.2 per cent with an average sale price of $916,567.

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