Another hot February both in terms of weather and real estate where house market is on full steam. Greater Toronto Area REALTORS® reported 3,865 home sales through TREB’s MLS® System during the first 14 days of February 2017. This result was up by 11 per cent in comparison to the first two weeks of February 2016, when 3,480 home sales were reported.
Condo market remains upbeat which reported the strongest annual rate of sales growth. Sales were down on a year-over-year basis for semi-detached houses which was mainly due to tight supply of homes. Overall a rosy outlook and a great start to the real estate market.
January 2017 Stas:
- In January 2017 – 5188 homes were sold as compared to 4640 homes in Ja 2016 showing a positive change of 11.8%
- New listings in Ontario numbered 17,830 units in January 2017, a decrease of 14.8% compared to last year.
- The active listings were down minimum 49.5% from 9,966 in 2016 to a total of 5,034 in year 2017
- Average home price in Jan 2017 was up 22.53% at $770,745 from $630,193 Source TREB
- There were just 2.4 months of inventory at the end of January 2017.
- The provincial average price for homes sold in January 2017 was a record $556,631 rising 19.8% from a year earlier.
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All stats provided by TREB.
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