The latest market Stats from the Toronto Real Estate Board (TREB) have just been released. Here is your snapshot to see how the market looks.
There are a few things to note as they need some interpreting.
1. They are stacked against the best month for prices and sales in Toronto history. Compared to past years they look great, compared to a record-breaking year they are low.
2. Sales in the higher/luxury end ($2m price range market) of detached homes were much lower, this impacted overall sale prices.
3. Condo sales remain very strong and are the only sector up year on year.
4. Inventory remains low in the GTA Real Estate, only 2.3 months in Mar. Which means as demand grows when we hit the Spring market, supply will constrict and prices and sales volume will likely increase. We are expecting a strong Spring market as markets normalize and the impact of mortgage rule changes decreases.