Here is our March 2019 Market Report, a quick resale housing analysis with key stats for Toronto and the Greater Toronto Area.
7,187 residential sales were reported in the month of March in 2019. This is inline with the 7,188 sales reported in March 2018. Sales are down by one percent in the first quarter of the year compared to Q1 in 2018.
Despite significantly lower sales levels from record-setting 2016 and early 2017, market conditions have remained tight enough to support a moderate pace of price growth.
While is seems that sales numbers have been stagnant, new listings have declined more so than sales. New listings in March were down 5.1 percent year-over-year and Q1 listings were down by 1.5 percent. This provides a continued level of competition between buyers for available listings in Toronto and the GTA, therefore providing a level of support for home prices.
*Stats via @treb