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Toronto Real Estate Board February MLS sale statistics:
- GTA single family home sales including condominiums - 4783.
- Volume - down 47%, compared to February 2022 9028 sales.
- Volume - up 54% compared to January 2023 3100 sales.
- Average price of a GTA single family home - $1,073,138.
- Down 9.8% from 2022's average price of $1,189,917.
(The GTA is Burlington to Clarington, Lake Ontario to Lake Scugog)
“New listings continued to drop year-over-year in the GTA. Recently released Ipsos polling suggests buying intentions have picked up for 2023. This increased demand will run up against a constrained supply of listings and lead to increased competition between buyers. This will eventually lead to renewed price growth in many segments of the market, especially those catering to first-time buyers facing increased rental costs,” said TRREB Chief Market Analyst Jason Mercer.
We track MLS sales daily.
- November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
- February 2023 45-85% of central district properties sold for over asking price daily.
(Central districts cover the Lake to York Mills, and the Humber River to Victoria Park.)
The February residential resale market was a slow market and "mixed".
- Central Toronto freehold inventory was limited.
- Some properties are unsold after 2, 3 months or more.
- Some under priced or reasonably priced homes sell in "bidding wars".
- A few homes sell within a day or two of coming to market on MLS.
- Buyers will pay a premium for recently and well renovated homes, whether freehold or condominium.
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1989
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$273,688
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2006
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$351,941
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1990
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$255,020
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2007
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$376,236
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1991
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$234,313
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2008
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$379,347
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1992
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$214,971
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2009
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$395,460
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1993
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$206,490
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2010
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$431,276
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1994
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$208,921
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2011
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$465,014
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1995
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$203,028
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2012
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$497,130
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1996
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$198,150
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2013
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$522,958
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1997
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$211,307
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2014
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$566,624
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1998
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$216,815
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2015
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$622,120
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1999
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$228,372
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2016
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$729,837
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2000
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$243,255
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2017
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$822,572
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2001
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$251,508
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2018
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$787,865
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2002
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$275,231
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2019
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$819,279
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2003
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$293,067
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2020
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$929,636
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2004
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$315,231
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2021
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$1,095,333
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2005
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$335,907
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2022
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$1,189,917
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