At 7,602 transactions, sales for March were the highest ever recorded in the 82 year history of the Toronto Real Estate Board, TREB President David Pearce announced today.

“We eclipsed the previous record of 7,485 sales, set just last May, by about 2%, and we are up 20% over the 6,328 sales recorded in March of 2001.” The President went on to note that average prices rose 1% in March, to $274,874 from February’s $270,883, and were up 11% from March 2001. “While prices continued to rise, the rate of increase slowed markedly last month. For this reason, we predict relative price stability over the course of 2002, not a late-80’s style run-up.”

Breaking down the total, 2,932 sales were reported in TREB’s 28 West districts and averaged $249,155; 1,221 sales were reported in the 14 Central districts and averaged $390,999; 1,482 sales were reported in the 23 North districts and averaged $298,675; and 1,967 sales were reported in TREB’s 21 East districts and averaged $223,194.

Click to view Residential Market Update – March 2002