With 7,904 sales recorded in March, the Toronto resale home market turned in its second best performance for the month ever, TREB President Ron Abraham announced today.

“The market continues to run at a near-record pace,” Mr. Abraham said. “With the Easter holiday behind us, we are now entering the most active time of year for sales. Spring should result in some very strong numbers.” Prices eased in March to $330,545, down one per cent from February’s $334,272, but up eight per cent from the $307,155 recorded in March of 2004. Inventory reached its highest point this year, with 21,840 properties listed for sale on the TorontoMLS system. This figure is up 11 per cent over the 19,749 listings available at the end of last March.

Breaking down the total, 2,991 sales were reported in TREB’s 28 West districts and averaged $308,660; 1,373 sales were reported in the 14 Central districts and averaged $433,384; 1,616 sales were reported in the 23 North districts and averaged $355,771; and 1,924 sales were reported in TREB’s 21 East districts and averaged $269,991.

Click to view Residential Market Update – March 2005