In February, sales rose 8%, to 4,731 from 4,393, and prices rose 11%, to $245,134 from $221,354, over the same month in 1999, TREB President Marilyn Baubie announced today.

“Toronto’s housing hot-streak continues,” the president said. Ms. Baubie went on to note that prices were up nearly 7% over the previous month, though part of this increase was the result of the surge in activity that generally arrives with the onset of the spring market. “We’re seeing a real tightness on the supply side which is starting to drive up prices,” the president said. “Total inventory is at 14,917, our lowest level for February in 10 years. This is good news for home sellers.”

Breaking down the total 1,769 sales were reported in TREB’s 28 West districts and averaged $222,490; 750 sales were reported in the 14 Central districts and averaged $375,847; 852 sales were reported in the 23 North districts and averaged $259,062; and 1,360 sales were reported in TREB’s 21 East districts and averaged $193,779.

Click to view Residential Market Update – February 2000