CONDO MARKET UPDATE AND NEWS

Market report February 2020

TREB MLS Sales Activity: 7256 (From 4982 in February 2019)

Up by 45.6 percent compared to February 2019.

TREB MLS Average Price: $910,290 (From 776,791 in February 2019)

New listings amounted to 10,613 in February 2020, a 7.9 percent increase.

The average selling price in February was up by 16.7 per cent.

Double-digit average price growth was experienced for most major market segments, including detached houses and condominium apartments.

Number of Detached sold: 3,476 (61.8% increase from February 2019)

Number of Semi Detached sold: 647 (43.5% increase from February 2019)

Number of Townhouse sold: 1,140 (44.9% increase from February 2019)

Number of condos sold: 1,906 (24.8% increase from February 2019)

Number of new listings: 10,613 (7.9% increase from February 2019)

Source: TRREB

TREB MLS Sales Activity: 4581 (From 3968 in January 2019)

Up by 15.4 percent compared to January 2019.

Very strong growth in the number of sales up against a continued dip in the number of new and available listings.

TREB MLS Average Price: $839,363 (From 747,175 in January 2019)

The average selling price in January was up by 12.3 per cent, driven by the detached and condos.

Many buyers who were on the sidelines due to the OSFI stress test are moving back into the market.

Number of Detached sold: 2,074 (23.3% increase from January 2019)

Number of Semi Detached sold: 351 (5.1% increase from January 2019)

Number of Townhouse sold: 782 (15.9% increase from January 2019)

Number of condos sold: 1,335 (8.3% increase from January 2019)

Number of new listings: 7,836 (17.1% decrease from January 2019)

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‘Reason to be concerned’: Toronto home prices rise as supply sinks

TREB Report January 2020