Greater Toronto home sales down in March but competition pushes prices up: board
The Toronto Regional Real Estate Board says Greater Toronto home sales in March were down 4.5 per cent from last year, but there was enough competition between buyers that the average home price rose moderately year-over-year.
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
The board says 6,560 homes changed hands in the month compared with 6,868 last year, while noting this year's sales figures were down in part due to the statutory Good Friday holiday falling within March rather than April.
The average selling price was up 1.3 per cent year-over-year to $1,121,615.
New listings were up 15 per cent over the same period, which TRREB president Jennifer Pearce attributes to homeowners possibly anticipating an improvement in market conditions in the spring.
The first quarter ended with 11.2 per cent higher sales year-over-year and new listings up by 18.3 per cent for the three-month period.
Pearce says that if borrowing costs begin to decrease later this year, sales will rise and new listings will be absorbed, causing tighter market conditions that push selling prices higher.
This report by The Canadian Press was first published April 3, 2024.
CTVNews.ca Top Stories
Guilty: Trump becomes first former U.S. president convicted of felony crimes
Donald Trump became the first former American president to be convicted of felony crimes Thursday as a New York jury found him guilty of all 34 charges in a scheme to illegally influence the 2016 election through a hush money payment to a porn actor who said the two had sex.
Can Trump come to Canada now that he's a convicted felon?
A Canadian immigration lawyer says now that Donald Trump is a convicted felon, he is technically barred from crossing the border into Canada.
Montreal tech billionaire charged with several sex offences
Robert Miller was charged Thursday with several sexual assault charges after Montreal police reopened an investigation into the tech billionaire.
Police: 3 killed, including suspected gunman, in Minneapolis shooting
Three people, including the suspected gunman, are dead after a shooting Thursday at a Minneapolis apartment complex, police said.
'Why didn't they stop?' Mom asks of driver in hit-and-run crash that killed son
The mother of a 13-year-old boy who was killed in a hit-and-run in Edmonton is begging the driver to come forward.
The northern lights are returning to night skies across Canada this Friday
If you missed the brilliant displays of the aurora borealis over North America on May 10, you may have another chance to see them on Friday night.
A pair enjoyed pricey meals and bolted when it was time to pay. Their dine and dash ended in jail
A Welsh couple who dined out on pricey meals and bolted when the bill came is now paying the price, behind bars.
$400K in damages for B.C. woman who had unnecessary mastectomy was 'inordinately high,' court finds
A jury's award of $400,000 to a woman who had a mastectomy after being misdiagnosed with breast cancer has been substantially reduced by B.C.'s highest court, which found the damages were "wholly disproportionate."