Moving further into the spring and summer months, growth in sales and selling prices is expected to pick up relative to last year. The overall average selling price for February sales was down 12.4% year-over-year to $767,818. However, putting aside the price spike reported in the first quarter of 2017, it is important to note that February’s average price remained 12% higher than the average reported last February, which represents an annualized increase well above the rate of inflation for the past two years. Finally, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability.
Here is our February 2018 Market Report, a quick resale housing market analysis with key stats for Toronto + the GTA ?.
>> Don’t forget to check out the complete monthly Toronto + GTA Resale Housing Market Figures report released by TREB for a comprehensive breakdown of all statistics recapped in our monthly market review.