Thursday, December 18th0.2°C
24562
24285

Toronto home sales in March up 7.2% from year ago, prices up nearly 8%: board

TORONTO - The Toronto Real Estate Board says home sales for March totalled 8,081, up 7.2 per cent from a year ago.

The increase came as the board also reported the average selling price for the month was $557,684, up almost eight per cent compared with March 2013.

"With borrowing costs remaining low, and in fact declining, strong home ownership demand will continue to butt up against a constrained supply of listings," said Jason Mercer, the board's senior manager of market analysis.

The number of new listings for the month totalled 14,829 compared with 14,618 a year ago.

The Toronto sales results followed a report Wednesday that sales in Vancouver also picked up in March.

The Real Estate Board of Greater Vancouver said Wednesday there were 2,641 homes sold, up from 2,347 a year ago.

Worries about the health of the Canadian housing market have persisted in recent months amid concerns it is overvalued and what could happen if interest rates rise.

However, several of Canada's big banks recently cut mortgage rates as bond yields dipped ahead of the busy spring real estate season.

The Bank of Montreal recently cut a half point from its five-year fixed-rate mortgage offering to 2.99 per cent.

TD Bank (TSX:TD) and Scotiabank (TSX:BNS) also offered rates less than three per cent on certain mortgages.

The Canadian Press


Read more Business News

23955


Recent Trending




Today's Market
S&P TSX14240.86+27.471
S&P CDNX670.37+11.34
DJIA17557.29200.42
Nasdaq4703.445+59.133
S&P 5002035.90+23.01
CDN Dollar0.8608+0.002
Gold1202.30+8.00
Oil56.21-0.26
Lumber339.60+5.40
Natural Gas3.762+0.06

 
Okanagan Companies
Pacific Safety0.125+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.02
Cantex0.03-0.005
Anavex Life Sciences0.17+0.0041
Metalex Ventures0.055+0.005
Russel Metals26.03-1.15
Copper Mountain Mining1.55+0.01
Colorado Resources0.10-0.005
ReliaBrand Inc0.01990.00
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.225+0.005

 
24130


24304

FEATURED Property
2071410437 Fleming Road, Kelowna,
2 bedrooms 2 baths
$229,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_



24437




Member of BC Press Council


23871