GTA REALTORS Release March 2023 Stats

In March 2023, the Greater Toronto Area (GTA) housing market saw an increase in competition between buyers, with sales accounting for a larger share of listings than in March 2022. Although sales were down 36.5% compared to the previous year, actual and seasonally adjusted sales were up month-over-month. The average selling price was up month-over-month on an actual and seasonally adjusted basis, exceeding the average list price for the first time since May 2022. The MLS® Home Price Index composite benchmark was down 16.2% year-over-year, and the average selling price was down 14.6% year-over-year to $1,108,606. New listings were also down on a year-over-year basis, indicating tighter market conditions.