POST Online Media Lite Edition


Toronto house prices, sales surge in March

Staff Writer |
Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area Realtors reported 12,077 residential sales through TREB’s MLS System in March 2017.

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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.

Strong competition between buyers continued to cause high levels of price growth in all major market segments.

The MLS Home Price Index (HPI) Composite Benchmark Price was up by 28.6 per cent year-over-year.

For the TREB market area as a whole, 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.

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