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Monthly Market Update – March 2019

 Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 7,187 residential sales through TREB’s MLS® System in March 2019. This result was in line with 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by 1% compared to Q1 2018.

While March and Q1 sales remained relatively flat compared to last year, new listings have declined more than sales. March new listings were down by 5.1% year-over-year and Q1 new listings were down by 1.5%.

“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… “  said president of TREB Mr. Bhaura.

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

“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 neighborhoods 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. (Courtesy of TREB)

If you'd like more information, or if you have a question that's not covered here, please ask me  — I'll be happy to help.


Monthly Market Update - June 2022
Monthly Market Update - May 2022
Monthly Market Update - December 2021.
Monthly Market Update - November 2021.
Monthly Market Update - September 2021.
Monthly Market Update - August 2021.
Monthly Market Update - July 2021.
Monthly Market Update - June 2021.
Monthly Market Update - May, 2021.
Overview of year 2020 and January 2021.
Monthly Market Update - November 2020.
Monthly Market Update - October 2020.
Monthly Market Update - September 2020.
Monthly Market Update - August 2020.
Monthly Market Update - June 2020.
Monthly Market Update - February 2020
Monthly Market Update - January 2020.
Monthly Market Update - December 2019
Monthly Market Update - November 2019
Monthly Market Update - October 2019
Monthly Market Update - September 2019
Monthly Market Update - August 2019
Monthly Market Update - July 2019
Monthly Market Update - June 2019
Monthly Market Update - May 2019
Monthly Market Update - April 2019
Monthly Market Update - March 2019
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