GTA home sales flat in March while prices edge up and listings fall

March home sales in the Greater Toronto Area were flat while listings fell and prices inched up.

The Toronto Real Estate Board says 7,187 homes sold in the month, one home less than sold in March 2018.

The average selling price for March was up 0.5 per cent, or $3,821 from a year earlier to $788,335. That was largely due to increases for condos and townhomes.

The average price of a detached home in the city of Toronto fell by 2.1 per cent to $1,267,598.

New listings in the month were down by 5.1 per cent year-over-year to come in at 13,996.

The board says that while sales are off record levels of 2016 and early 2017, market conditions remain tight enough to support home prices.

 

With files from NEWSTALK 1010