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Market Update (March 2017)

Blog by Marcie Panah BSc, MA Personal Real Estate Corporation | April 12th, 2017


For the month of March 2017, residential property sales in the region totalled 3,579 in March 2017, a decrease of 30.8 per cent from the 5,173 sales recorded in record-breaking March 2016 and an increase of 47.6 per cent compared to February 2017 when 2,425 homes sold.  Although there was a decrease in demand for detached homes, the demand for condos and townhomes has increased.

March also recorded the lowest number of new listings since 2009 with only 4,762 new listings. This represents a decrease of 24.1 per cent compared to the 6,278 units listed in March 2016 and a 29.9 per cent increase compared to February 2017 when 3,666 properties were listed.