4 April 2018
In addition to it, March sales numbers were also 17.9% below the 10 years average, while the number of new listings fell by 3%.
At the same time, housing sales rebounded from February, making BMO Capital Markets economists Robert Kavcic and Jennifer Lee call it a sign of stabilizing.
“Although active listings remain twice higher than a year ago, we can see a slow tightening of conditions from the mid-2017 lows,” – the noted. “Don’t forget that the market was extremely tight a year ago”.
The average home price in the GTA went down from $915,126 in March 2017 to $784,558 last month, marking a 14.2% decline.
In spite of this drop, TREB still expects the sales this year to be higher than in 2017.
“Today, we compare drastically different periods of time,” – says Jason Mercer, TREB’s director of market analysis.
|
TREB MLS® Sales & Average Price By Home Type March 1 – 31, 2018 |
||||||
|
Sales |
Average Price |
|||||
|
416 |
905 |
Total |
416 |
905 |
Total |
|
|
Detached |
706 |
2,414 |
3,120 |
1,293,903 |
921,515 |
1,005,779 |
|
Yr./Yr. % Change |
-41.1% |
-47.7% |
-46.3% |
-17.1% |
-17.9% |
-17.1% |
|
Semi-Detached |
236 |
450 |
686 |
1,032,358 |
651,967 |
782,831 |
|
Yr./Yr. % Change |
-28.5% |
-31.6% |
-30.6% |
-5.0% |
-12.4% |
-8.8% |
|
Townhouse |
260 |
865 |
1,125 |
735,650 |
609,375 |
638,558 |
|
Yr./Yr. % Change |
-27.8% |
-35.9% |
-34.2% |
-3.5% |
-11.7% |
-9.5% |
|
Condo Apartment |
1,573 |
610 |
2,183 |
590,184 |
449,967 |
551,003 |
|
Yr./Yr. % Change |
-32.0% |
-34.7% |
-32.7% |
7.1% |
2.1% |
6.1% |