➕‘the numbers’ for February are in. A small year-over-year increase in new listings [+4% vs. Feb 2021] was not enough to lessen the competition between Toronto Buyers in February. Double digit year-over-year price growth was experienced across all property segments, and inventory remains tight.
Of particular note, average price for detached homes in Toronto rose above $2 million and average price for condos rose above $800K, both new milestones for the Toronto Real Estate market.
All home-type segments recorded double-digit growth rates in the ‘416’ area code with increases in average selling prices for detached houses [+23%], semi-detached houses [+13%], townhouses[+24%] and condos [+21%]vs. 2021.
Looking to buy or sell a home in Toronto? Average prices in February were as follows:
➕ Condo $822,090