March 2023 Market Update

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Toronto & GTA

Toronto & GTA housing market experienced tightened conditions, with sales accounting for a higher share of listings compared to March 2022. This indicates increased competition among buyers, with the average sale price exceeding the average list price in some areas, for the fist time since May 2022.

Despite a 36.5% decline in sales compared to March 2023, sales increased month over month
The average selling price was down 14.6% year over year, but it increased month over month.

Caledon

Properties in Caledon increased by 7.5% month over month from February 2023.

Bolton

Properties in Bolton increased by 7.5% month over month from February 2023.

Muskoka

  • Residential Sales in Muskoka increased in March from 43 in February to 57 on non waterfront properties and from 11 in February to 33 on waterfront listings.
  • Sales in the Condo sector were down slightly in March from February’s 5 to 4 in the non- waterfront sector and up from 1 in February to 6 in March for the waterfront sector
  • Total Residential Listings saw an increase in new listings from February’s 89 to 143 for March on non waterfront properties and from 59 to 116 on waterfront properties. March month end there were 204 active residential listings on non waterfront (February had 60) and 209 active residential waterfront listings (up from 56 last month). Active listings do include those with conditional offers but not yet firm.
  • Listings priced competitively continue to sell with a median number of days on market of 21 (March) vs 16 (February) for non waterfront and 29 (March) vs 41 (February) for waterfront properties.
  • The Muskoka Median Residential sale price was down slightly from $630,000 to $625,000 (non waterfront) and an increase from $1,025,000 to $1,100,000 (waterfront)

If you have been following our monthly reports, you may have noticed a big jump in active listings in both waterfront and non-waterfront active listings for the month of March. Traditionally this happens as the snow begins to melt and our minds shift to outdoor activities. There are more properties to choose from and if you are thinking of selling, more people looking for the perfect place.


Have you been thinking about moving? Do you wonder if now is the right time to buy or sell? Wondering what your home is worth today with the shifting real estate market? Perhaps you’ve been searching for that one of a kind property, but just can’t find it?

We can help answer your questions, provide you with a free no-obligation Home Valuation and help you find that perfect property.

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