Dear CDs,

Toronto Real Estate Board (TREB) has released the figures for March 2019 for the residential transactions done through TREB MLS system.

Highlights:

* Total sales in March 2019 are in-line with the sales figures in March 2018 (7187 and 7188, no difference).

* However, for first quarter of 2019, sales are down by 1% as compared to Q1 of 2018.

* Supply of New Listings in March 2019 declined by 5% (Year over Year), indicating still a Seller's market. Q1 listings are down by 1% though.

* Since the supply of new listings has remained tight, it is supporting price growth.

* Average sale price increased from $784,514 to $788,335 (year over year)

* There is still competition among the buyers in many pockets of GTA which is resulting in Multiple offers situation.

* Townhouse segment has shown double digits growth in Sales in March 2019 (Year over year)

* Detached homes are positive in Sales but price wise, still in negative. High time to upgrade to Detached property before the prices of that segment start rising and show positive growth.

Bank of Canada overnight rate (March 2019): 1.75% ; Prime Rate (March 2019): 3.95%


If anyone wants report pertaining to any specific area of GTA, please get in touch with me and I can share the report.


Summary of TREB MLS® Sales and Average Price
March 1 - 31, 2019
2019 2018
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto (416) 2,545 830,043 4,527 2,783 817,619 4,410
Rest of GTA (905) 4,642 765,469 9,469 4,405 763,599 10,343
GTA 7,187 788,335 13,996 7,188 784,514 14,753

-----------------------------------------------------------------
Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)

Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto

Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK