Beautiful warm weather is FINALLY upon us (for the most part). Joking aside, just got my hands on the new statistics from the Toronto Real Estate Board showing some general trends and I'm here to help you understand what they mean.

Sales - 18.9% increase is definitely encouraging news! With 1,587 more closed deals, this means that the previous months sure was active in the GTA! 
New Listings - 0.8% increase may indicate that sellers are growing increasingly confident that it's a good time to sell. 
Active Listings - -4.3% decease definitely does not mean anything negative in this aspect. In contrast, this is a good trend because listings are going off the market quicker than new listings meaning the market is absolutely buzzing with willing buyers! 
Average Price - 3.6% increase is excellent news compared to the previous year as we saw a dip in overall pricing with the increased interest rates all of last year. 
Average Day On Market (DOM) - Many of you may not know what DOM means on listings but this category correlates with the Active Listings category. Coming in at a -5% decrease means listings are selling much quicker than a year before. Again, buyers are ready and willing and seems to have adjusted to the interest rate increases of last year. Buyer confidence has once again risen.

Although these figures are useful for realtors to get a grasp of what's happening with the general landscape of the GTA, careful not to generalize it to a specific area as this is a just an average and does not indicate specific areas. Contact me if you would like to know specifically what your area is like!