Toronto Real Estate Prices up 33% in March
Thursday Apr 06th, 2017
Toronto Real Estate Board announced that Greater Toronto Area reported 12,077 residential sales through TREB’s MLS® System in March 2017.
This result represented a 17.7 per cent increase compared to the 10,260 sales reported in March 2016.
For the TREB market area as a whole, annual sales growth was strongest for condominium apartments and detached houses. The number of new listings also increased on a year-over-year basis, at 17,051 – a 15.2 per cent increase compared to March 2016.
The strongest growth in new listings was experienced in the detached market segment. While new listings were up strongly compared to last year, the rate new listings growth was still lower than the rate of sales growth. As a result, GTA market conditions continued to tighten.
For the GTA market area, the average selling price was up by 33.2 per cent, with similar annual rates of growth in the low-rise and condominium apartment segments. “Annual rates of price growth continued to accelerate in March as growth in sales outstripped growth in listings.