There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million.
The average selling price dipped slightly month-over-month, bucking the regular seasonal trend. New listings were also down on a year-over-year basis, but by a much lesser annual rate than sales. This suggests that while market conditions remained very tight, homebuyers did not experience the same level of competition from other buyers compared to a year earlier.
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