The Toronto Real Estate Board MLS system saw 6,328 sales of single-family dwellings in March, up 3% from last year and the best March total since 1988, TREB President David Pearce announced today. In addition, with 14,192 sales in the period running from January to March, 2001 turned in one of the best first quarter performances ever.

“We fully expect the market to grow even stronger in the coming months,” Mr. Pearce continued. “Listing levels are up almost 20% from last year and, with more quality product coming up for sale, a lot of last year’s fence-sitters are becoming this year’s home-buyers.” Finally, the president noted, prices moderated last month, with the average price falling about 1% to $248,601 from February’s $252,072.

Breaking down the total 2,394 sales were reported in TREB’s 28 West districts and averaged $234,510; 1,021 sales were reported in the 14 Central districts and averaged $341,537; 1,184 sales were reported in the 23 North districts and averaged $265,660; and 1,729 sales were reported in TREB’s 21 East districts and averaged $201,551.

Click to view Residential Market Update – March 2001