Residence gross sales within the Better Toronto Space fell 23.1 per cent in March whereas extra provide hit the market, serving to deliver down costs in contrast with a yr in the past.
The Toronto Regional Actual Property Board says 5,011 properties had been bought final month, in contrast with 6,519 in March 2024. Gross sales had been down 2.4 per cent from February on a seasonally adjusted foundation.
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In the meantime, the board says 17,263 new properties had been listed within the GTA final month, up 28.6 per cent in contrast with final yr, as complete stock within the area rose 9.5 per cent to 13,633.
TRREB chief data officer Jason Mercer says many households involved in shopping for a house are seemingly taking a “wait-and-see method” given the financial implications of ongoing commerce uncertainty and a federal election marketing campaign.
The typical promoting worth decreased 2.5 per cent in contrast with a yr earlier to $1,093,254, because the composite benchmark worth, meant to characterize the standard dwelling, was down 3.8 per cent year-over-year.
The board says it anticipates exercise will enhance as soon as shoppers really feel assured within the economic system and their job safety.
© 2025 The Canadian Press
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