Here's what happened in the GTA's real estate markets in March 2017

10 April 2017
Life and the City

The stats are in and March was again a record breaking month. Here is a list of firsts...

* Highest ever number of overall sales for the month of March (12,077)
* Highest ever ratio of sales-to-listings for the market overall in any month (153.6%) AND the highest ever for the downtown condo market (151%)
* Highest ever average sale price ($916,567)
* Most downtown condo sales ever for the month of March in C01 (627) and in C08 (237)
* 33.2% average sale price increase from March 2016 average
* Get this… an unprecedented jump of over $40,000 in the average sale price between February 2017 and March
* The GTA real estate market posted the lowest days-on-market ever at 10
* First-time buyer aspirations now shifting to a condominium lifestyle – We're predicting a much higher demand for 1 + den and 2-bedroom suites to accommodate small families. This is borne out by the most number of high-rise suites and townhouses being sold in any month (4,050)
* Highest ever downtown condo high-rise average sale price ($585,000)
* Building on this higher demand due to better affordability, condo appreciation in the two main downtown markets averaged 24% year-over-year and the condo days-on-market number was about half of one year ago

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Take a look at the infographics below to discover overall market stats, as well as stats for districts throughout the GTA, and watch the video at the bottom of this post for even more insight. This interactive map identifies the area that each district covers. Feel free to reach out to us if you have any questions regarding these stats, or if you want to learn more about current stats in your own neighbourhood!

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All Districts

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Downtown Condos

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North-Central Districts

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South-Central Districts

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East Districts

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York Districts

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Watch the video below for RE/MAX Hallmark's March 2017 Market Report: