According to the Toronto Real Estate Board (TREB), there were 6,338 sales through the Multiple Listing Service (MLS) in February. Up by 11.3 per cent compared to February 2014.
February saw an average selling price of $596,163 - which is up by 7.8 per cent from the average selling price of $552,859 reported in February 2014.
“Even with the record low temperatures last month, we still saw an increase in the number of people purchasing homes in the GTA. This speaks to the importance households place on home ownership and the fact that buyers continue to view ownership housing as a quality long-term investment in which they can live,” said said Mr. Paul Etherington, President, Toronto Real Estate Board.
The median price in February 2015 was $490,800.
The median price in February 2014 was $459,900.
“The strong year-over-year price growth we experienced in February points to the robust demand for ownership housing in the GTA, coupled with a constrained supply of homes for sale in some market segments, especially where low-rise home types like singles, semis and townhouses are concerned,” said Jason Mercer, TREB’s Director of Market Analysis.
*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).