Prices increased moderately in March, with the average up three per cent over 2006 to $365,285.
“Prices are rising above the rate of inflation (currently about two per cent), but not so rapidly that first-time buyers will be pushed out of the market,” said TREB President Dorothy Mason. During last month TREB Members reported 8,518 sales of single-family dwellings across the GTA. “While down modestly (two per cent) over last year’s total of 8,707, any result over 8,000 must be considered a strong performance,” noted the President, “We expect a similarly robust showing from the remainder of the spring market.”
Breaking down the total, 3,233 sales were reported in TREB’s 28 West districts and averaged $343,475; 1,521 sales were reported in the 14 Central districts and averaged $471,804; 1,706 sales were reported in the 23 North districts and averaged $400,392; and 2,058 sales were reported in TREB’s 21 East districts and averaged $291 ,721.