GTA March Sales

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By Elli Davis, April 9, 2011

Photo by LawPrieR

March is over and, as usual, a monthly summarizing report was published by the Toronto Real Estate Board. According to the report 9,262 homes were sold in the Greater Toronto Area this past month — which is the second best result for the month of March on record.

In comparison with March of 2010, when 10,430 transactions were recorded, it is an 11 per cent decline. New listings also decreased by 19 per cent, down from 18,914 in March 2010 to 15,315 last month. The average price for a home, however, increased by 5 per cent over the course of the year to $456,147. The median price for a home went up as well, from $370,000 to $385,000.

Continuing the trend from January and February, March 2010 slightly worsens the impression left by last month’s report — but it was still a pretty successful month for our area. Let’s hope the upcoming months will be good, too.