TREB Members recorded 6,060 sales in February, up two per cent from February of 2003 and the second best total for the month ever recorded.

“A number of factors that contributed to this result,” noted TREB President Cynthia Lai. “The leap-year gave us an extra sales day in 2004 and last year’s weather was even worse than in this February. Nevertheless, any month with over 6,000 sales is indicative of a very healthy market.”

Prices trended higher in February, with the GTA-wide average coming in at $310,190, up five per cent over the January figure of $295,989, and up seven per cent from the $289,954 recorded during February of 2003. “This increase occurred across all four of TREB’s four geographic areas,” The President noted, “and was accompanied by a two per cent increase in the median price, which went to $265,000 from January’s $259,978. However, it should be noted that not all districts or neighborhoods were equally active. Prices in the East end of Toronto, for example, rose one per cent over 2003.”

Breaking down the total, 2,334 sales were reported in TREB’s 28 West districts and averaged $287,714; 988 sales were reported in the 14 Central districts and averaged $419,686; 1,227 sales were reported in the 23 North districts and averaged $338,844; and 1,511 sales were reported in TREB’s 21 East districts and averaged $250,045.

Click to view Residential Market Update – February 2004