The Toronto Regional Realty Board says that home sales were solid in the first half of March, but then began to slow due to the COVID-19 pandemic.
Sales of 8,012 homes for the month represented a 12.3% increase from last year.
The board says home sales are up 49% in the first two weeks from last year, but sales are down 15.9% from last year for the rest of the month.
Chairman of the Board Michael Collins said physical distancing and economic uncertainty have caused the market to slow.
New month-to-month registrations increased 3% to 14,424, but registrations fell 18.4% in the second half of the month from a year ago.
The board reports that the average selling price in March increased 14.5% to $ 902,680, while the average selling price in the second half of the month increased 10.5%.