What Can $800,000 Get You In Toronto?
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What Can $800,000 Get You In Toronto?

Find Out Now

By the Numbers 

The Toronto Real Estate Boards statistic year over year for the month of March. 

7,187

TREB Sales 

March  2019

$788,355

TREB Average Price March 2019

7,188

TREB Sales 

March 2018

$784,514

TREB Average Price 

March 2018

March Numbers 2019

  • Number of Sales 2019
    7,187 | 0.0%
  • Number of Sales 2018
    7,188
  • Number of New Listing 2019
    13,996| -5.1%
  • Number of New Listings 2018
    14,753
  • Number of Active Listing 2019
    15,576 | -2.5% 
  • Number of Active Listings 2018
    15,971
  • Average Price 2019
    $788,335 | +0.5% 
  • Average Price 2018
    $784,514
  • Average Days on the Market (DOM) 2018
    21 Days
  • Average Days on the Market (DOM) 2018
    20 Days

TREB Market Summary

TORONTO, ONTARIO, April 3, 2019 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 7,187 residential sales through TREB’s MLS® System in March 2019. This result was inline with 7,188 sales reported in March 2018. 

For the first quarter of 2019, sales were down by one per cent compared to Q1 2018. While March and Q1 sales remained relatively flat compared to last year, new listings have declined more so than sales. March new listings were down by 5.1 per cent year-over-year and Q1 new listings were down by 1.5 per cent. 

“The OSFI stress test continues to impact home buyers’ ability to qualify for a mortgage. TREB is still arguing that the stress test provisions and mortgage lending guidelines generally, including allowable amortization periods for insured mortgages, should be reviewed. The supply of listings in the GTA also remains a problem. Bringing a greater diversity of ownership and rental housing online, including ‘missing middle’ home types, should be a priority of all levels of government. TREB is happy to be taking part in the City of Toronto’s consultations for the Housing TO – 2020-2030 Action Plan, and will certainly be raising the supply issue during these discussions,” said Mr. Bhaura. 

“While the City of Toronto’s recently announced Housing TO – 2020-2030 Action Plan is exciting and commendable and TREB looks forward to contributing solutions as a Member of the External Advisory Committee, the recently proposed increase to the Municipal Land Transfer Tax on higher priced properties is problematic. As the recent City budget process showed, the MLTT is not a sustainable revenue source from which to fund municipal programs. On top of this, additional MLTT on higher priced homes could have a trickle-down effect on the supply of homes throughout the housing price continuum,” said TREB CEO John Di Michele. 

The MLS® Home Price Index Composite Benchmark was up by 2.6 per cent year-over-year in March, while the average price for March sales was up by a lesser annual rate of 0.5 per cent to $788,335. The average selling price for Q1 2019 was up by 1.1 per cent year-over-year. 

“Market conditions have remained tight enough to support a moderate pace of price growth. Despite sales being markedly lower than the record levels of 2016 and early 2017, the supply of listings has also receded. This means that in many neighbourhoods throughout the GTA, we continue to see competition between buyers for available listings, which provides a level of support for home prices,” said Jason Mercer, TREB’s Chief Market Analyst.

Breaking Down The Numbers

Sales Numbers, Average Price & Percentage Changes over the same time last year.

Detached

3,230 | +4.3%

$984,782 | -2.1%

Townhouse

1253 | +12.1%

$646,674| +1.2%

Semi-Detached

671 | -1.9%

$789,462 | +0.8%

Condo Apt.

1,965 | -9.7%

$560,020 | +1.6%

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