❗️February 2020 Market Snapshot ❗️
There's no surprise here as the February 2020 Toronto
Real Estate Market
numbers come in!
Area Realtors reported 7,256 residential transactions through TRREB’s MLS System in February 2020, representing a 45.6 percent increase compared to a 10-year sales low in February 2019.
10,613 new listings were reported in February 2020, a 7.9 percent increase compared to February 2019.
This moderate annual growth rate was much smaller than that reported for sales, which means the market conditions tightened considerably over the past year. As market conditions tightened over the past year, competition between buyers has clearly increased. This resulted in a further acceleration in year-over-year price growth in February.
The MLS Home Price Index Composite Benchmark was up by 10.2 percent. The average selling price for all home types combined was up by 16.7 percent to $910,290. Double-digit average price growth was experienced for most major market segments, including detached houses and condominium apartments.
*Source - Toronto
Real Estate Board*
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