The Toronto Real Estate market continues to post positive numbers for March, 2010.

Toronto resale Condos were a standout with an increase of 74 per cent year over year to 1,714 units at an average price of $327,584.

TORONTO (Marketwire) - Greater Toronto REALTORS(R) reported 10,430 sales through the Multiple Listing Service(R) (MLS(R)) in March, pushing total first quarter 2010 sales to 22,418 - the best result on record under the current Toronto Real Estate Board (TREB) boundaries. The average price for March transactions was $434,696. The average price for the first quarter was $427,948.

"The strong rebound in the existing home market was one of the initial drivers of economic recovery," said TREB President Tom Lebour. "While we don't expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries."

The annual rate of growth for new listings continued to accelerate in March. The number of new listings grew by 42 per cent compared to March of 2008.

"The average home price in the GTA will continue to grow this year, but the pace will slow as we move through the spring," said Jason Mercer, TREB's Senior Manager of Market Analysis. "As growth in new listings starts to outstrip growth in sales, buyers will experience more choice, resulting in more sustainable single digit rates of average price growth."

Summary of March Sales and Average Price

City of Toronto ("416") 4,037 sales, $477,263 average price

Rest of GTA ("905") 6,393 sales ,$407,817 average price

GTA Totals 10,430 sales $434,696 average price

Toronto resale homes increased 23 per cent from March 2009 to an average price of $477,263, an increase of $89,470.