Highest Ever Average Sale Price

By: Thomas Cook

Highest Ever Average Sale Price

In February sales were up 45.5% compared to last year with 7,256 houses and condominiums changing hands in all the districts.
Condo townhouse and high-rise suite sales were up by 27.5% with a 33% share of the market and 2,392 units being sold.
The February average sale price for all GTA homes came in at $910,290, up 16.7% from one year ago.
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of February compared to historical numbers was lower by a huge 33.6% compared to last year at this time.
This inventory imbalance is causing price increase in many, but not all, GTA districts.
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
In February that ratio finished at 82.3% - almost 45% above last year and a continuation of what we saw in January 2020.  This is an indication of a continuing strong, steady market as we start into the 2020 spring market.
The days-on-market average for GTA / Toronto homes was 23 days, 7 days faster than January.

Here’s a snapshot summary of the significant real estate milestones for Toronto in February 2020… with the highest appreciation rate we’ve seen since March 2018!!

Watch the video to get the complete February 2020 Market Report details.

Here's the complete text version of the February 2020 Toronto Real Estate Market Report to read.

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