RARE’s Economic Research Department meticulously examines TREB’s monthly data releases, distilling them into an easily digestible and insightful format within our market report.
March brought the usual spring momentum to Toronto’s housing market but the bigger picture remains complex with deeper pressures continuing to shape the market’s trajectory. The latest data reveals where things stand.
In March, sales in the Toronto metro area continued to strengthen, consistent with typical seasonal patterns where activity rises from January through May. Sales reached 5,039, up 30% month-over-month and 1% year-over-year, though still 40% below the 10-year average. Despite the monthly gain, this marked one of the lowest March sales volumes since at least 2006.
New listings climbed 35% month-over-month to 14,442 in March. Despite this increase, volume remained 16% below the previous year and 9% down compared to the 10-year average. Listings typically rise from January through May.
Active inventory rose to 21,596 units in March, up 12% month-over-month, 8% lower year-over-year and 56% above the 10-year average. The increase aligned with typical seasonal patterns, as activity usually picked up from January through May.