March 2016 - Market Watch

Inventory Shortage Continues to Push Prices Up

Toronto Real Estate Board President Mark McLean announced record TREB MLS® home sales for the first quarter of 2016 following a strong result for March transactions. Year-over-year growth rate for sales was 15.8 per cent for Q1 2016 and 16.2 per cent for March 2016 while new listings continue to decline, down 30% compared to the same period in 2015. The shortage of homes continues to drive strong competition between buyers resulting in double-digit rates of price growth.

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Edmond Ishag

Edmond Ishag

Real Estate Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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