MLS reported 9,262 transactions through in March 2011. The number of transactions was 11 per cent lower than the record result reported in March 2010. The average selling price for March 2011 was up five per cent year-over-year to $456,147. The number of transaction decreases might be because of the long winter that we have and also could due to the recent tightening of mortgage regulation. We will have to continue to monitor the market closely to see where the market is heading later in 2011.
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