Toronto Real Estate Board February MLS sale statistics:

• GTA single family home sales including condo townhouses and apartments - 5,025.
• Volume - down 2.4% compared to February 2018 5,148 sales.
• Volume - up 25% compared to January 2019 4,009 sales.
• Average price of a GTA single family home - $766,197.
• Down 2.6% from 2018's average price of $787,195.

"Home sales reported through TREB’s MLS® System have a substantial impact on the Canadian economy. A study conducted by Altus for TREB found that, on average, each home sale reported through TREB resulted in $68,000 in spin-off expenditures accruing to the economy. With sales substantially lower than the 2016 record peak over the last two years, we have experienced a hit to the economy in the billions of dollars, in the GTA alone. This hit has also translated into lower government revenues and, if sustained, could impact the employment picture as well,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

We track MLS sales daily.

• November 2016 to May 30th 2017, 90% of properties in central districts sold for over asking price.
• February 2019 45-75% of properties sold for asking or under.

The February residential resale market continues to be a story of different markets that vary by housing type and location.

• In central Toronto limited supply and strong demand, meant bidding wars and "bully offers" in both freehold and condos if the list price was reasonable.
• There was a decline of 6.2% for new listings from a year earlier. And in February 2018, buyers complained of limited inventory.
• A recent Urbanation study predicts an average 6% price gain in 2019 for condominiums, extending a 19 month period when condominium prices have outpaced house prices. (Urbanation, founded in 1981, provides data and analytics on GTA condominiums. Their clients include developers, lenders, investors, realtors, and municipalities.)
• 905 region resale homes where the average price has remained flat since October 2017 - remains a soft market.