toronto house price

Toronto house prices up 33% since last year

After the first quarter of 2017, the Toronto real estate market seems to keep getting hotter, at least according to the latest report from the Toronto Real Estate Board (TREB).

The TREB says that across the GTA, housing prices were up 33.2 percent compared to March 2016, increasing from $688,011 to $916,567.

While the number of listings on the market rose by around 15 percent, the number of sales grew by 17.7 percent, so the issue of demand outweighing supply remains.

“Annual rates of price growth continued to accelerate in March as growth in sales outstripped growth in listings, said Jason Mercer, TREB’s director of market analysis in a news release.

"A substantial period of months in which listings growth is greater than sales growth will be required to bring the GTA housing market back into balance."

Last month, the average price for a detached house in Toronto was more than $1.5 million.

Lead photo by

LunaticDesire


Join the conversation Load comments

Latest in City

Here are the rules for mask usage during Toronto's lockdown

Another construction crane collapsed in Toronto

Doug Ford admits allowing big box stores to stay open is unfair to local retailers

Toronto neighbourhood has had it with concrete company after cyclist killed by truck

Another storage unit party took place in Toronto this weekend

These are the rules for seeing other people during lockdown in Toronto

This is what's open and closed in Toronto during lockdown

Man building homeless shelters threatened with legal action by City of Toronto