For the third straight month of 2021, record home sales continued across the Greater Toronto Area with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.
According to a new Toronto Regional Real Estate Board report, sales in the GTA reached a record 15,652 last month, up 97% from 7,945 during the same time last year.
One major reason for the dramatic increase in sales is the fact that this time last year the economic effects of the pandemic first took hold, making many buyers and sellers hesitant to enter the market.
The average home price in March also grew to $1.1 million, an increase of 16.5% compared to last year.
The consistent increase in home sales and price over the…