February 2020 Market Snapshot

Dated: March 9 2020

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❗️February 2020 Market Snapshot ❗️
There's no surprise here as the February 2020 Toronto Real Estate Market numbers come in!
Greater Toronto 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*
Want to know the market statistics and sales activity in your neighbourhood? Contact me to get your personalized property report and stay informed with your investment!
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Lindsay Reimers

As a real estate professional, I believe in personalized service and solid communication. I have been a full-time, full-service Realtor for 9 years now with sales across Toronto and the Greater Toront....

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