Column Toronto Real Estate Brokerage Royal LePage RES Ltd/Johnston and Daniel Division Toronto REALTORS® Louise Dodd and Jason Dodd
Column Middle Toronto REALTOR® Louise Dodd Toronto REALTOR® Jason Dodd Toronto Real Estate Services Toronto Real Estate for Sale Previous Toronto Real Estate Sales Toronto Real Estate Information and Other Information

February Real Estate Market

Toronto Real Estate Board February MLS sale statistics:

  • GTA single family home sales including condo townhouses and apartments - 7,256.
  • Volume - up 45.6%, compared to February 2019 4,982 sales.
  • Volume - up 58% compared to January 2020 4,581 sales.
  • Average price of a GTA single family home - $882,788.
  • Up 7.8% from 2019's average price of $819,382.

(The GTA is Burlington to Clarington, Lake Ontario to Lake Scugog)

“TRREB’s current average price forecast is for 10 per cent price growth to $900,000 in 2020. While this outlook represents a very robust pace of growth, it is possible that further tightening in the detached market segment could push the overall average selling price above TRREB’s baseline scenario. This could unfold if sales growth continues to outstrip new listing growth to the degree it has so far in 2020,” said Jason Mercer, TRREB’s Chief Market Analyst.

We track MLS sales daily.

  • November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
  • February 2020 20-60% of properties sold for asking or under.

(Central districts cover the Lake to York Mills, and the Humber River to Victoria Park.)

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

  • In the GTA limited supply and strong demand, meant bidding wars and "bully offers" in both freehold and condos if the list price was reasonable.
  • The rental market is stabilizing given the number of rentals on the market.
  • Buyers are paying a high of $80,000 to $85,000 for downtown parking spaces, according to Urbanation.
  • In February, two pre-construction projects sold out in two weeks. Buyers paid $1,350 to $1,400 per square foot in these projects according to Urbanation.

Average Price February 2020
Average Price February 2019
City (416)
$989,218
$840,761
G.T.A. (905)
$869,381
$743,311

Average GTA Prices 1992 to 2019

1992
$214,971
2006
$351,941
1993
$206,490
2007
$376,236
1994
$208,921
2008
$379,347
1995
$203,028
2009
$395,460
1996
$198,150
2010
$431,276
1997
$211,307
2011
$465,014
1998
$216,815
2012
$497,130
1999
$228,372
2013
$522,958
2000
$243,255
2014
$566,624
2001
$251,508
2015
$622,120
2002
$275,231
2016
$729,837
2003
$293,067
2017
$822,572
2004
$315,231
2018
$787,865
2005
$335,907
2019
$819,319
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