Tuesday, April 06, 2010

March Real Estate Resale Market Figures for the GTA, Toronto and Mississauga

The results for March sales are in and there were over 10,000 sales in March. The average price climbed to $434,696 up marginally from the previous month figure of $431,509

All good news for sellers. Buyers are still finding it difficult to find a home because of multiple offers on most listings.

The entire report is below.

All the best,

Mark

Greater Toronto REALTORS(r) report March Resale Market Figures

TORONTO, April 6, 2010 - Greater Toronto REALTORS(r) reported 10,430 sales through the Multiple Listing Service(r) (MLS(r)) in March, pushing total first quarter 2010 sales to

22,418 - the best result on record under the current Toronto Real Estate Board (TREB) boundaries. The average price for March transactions was $434,696. The average price for the first quarter was $427,948.

"The strong rebound in the existing home market was one of the initial drivers of economic recovery," said TREB President Tom Lebour. "While we don't expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries."

The annual rate of growth for new listings continued to accelerate in March.

The number of new listings grew by 42 per cent compared to March of 2008.

"The average home price in the GTA will continue to grow this year, but the pace will slow as we move through the spring," said Jason Mercer, TREB's Senior Manager of market Analysis. "As growth in new listings starts to outstrip growth in sales, buyers will experience

Mark

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