Here is the update for March 2018 for the City of Toronto real estate market for the categories of: Detached, Semi-detached and Condo Apartments. (mom=month over month and yoy=year over year).
Active Listings - 1,642, +13% mom and +66% yoy
New Listings - 1,473, +30% mom and -23% yoy
Sales - 706 units, +35% mom and -42% yoy
Avg Price - $1,293,903, +1% mom and -17% yoy
Months Supply (Active Listings/Sales) - 2.3 (down from peak of 3.5 in July)
Active Listings - 236, -4% mom and +36% yoy
New Listings - 308, +26% mom and -29% yoy
Sales - 236 units, +62% mom and -29% yoy
Avg Price - $1,032,358, +5% mom and -5% yoy
Months Supply - 1.0 (down from a peak of 2.6 in July)
Active Listings - 1,854, +5% mom and +34% yoy
New Listings - 2,225, +32% mom and -22% yoy
Sales - 1,573 units, +38% mom and -32% yoy
Avg Price - $590,184, +3% mom and +7% yoy
Months Supply - 1.2 (down from a peak of 2.0 in July)
It will be interesting to look at all of this data over the next three months as some big numbers will start to roll off. For instance, the Avg Sales Price for Detached and Semis peaked in April 2017 so the yoy will start to look better. It will also be interesting to see how the new mortgage qualifying rules (B20) affect the really important Spring buying/selling season.
For now, it appears that the market is coming into balance with a decent tilt continuing to favour the lower priced type of housing (condos).