TREB Members reported 6,772 sales in February, an increase over February 2006 (6,756 sales) and the second best total for this month ever recorded, TREB President Dorothy Mason announced today.

“While the weather last month may have been cold, Toronto’s resale housing market remained hot,” noted Ms. Mason. “And while it is too early to make predictions, it is clear from the start of 2007 that the spring season is likely to produce sales numbers at east comparable to those of the past several years, which have been record or nearrecord performances.” Meanwhile, average prices climbed four per cent over the previous month to $368,687 as sales activity accelerated. They were also up four per cent from the February 2006 figure of $353,928. The average time-on-market was a torrid 35 days.

Breaking down the total, 2,522 sales were reported in TREB’s 28 West districts and averaged $342,060; 1,224 sales were reported in the 14 Central districts and averaged $504,381; 1,395 sales were reported in the 23 North districts and averaged $389,306; and 1,631 sales were reported in TREB’s 21 East districts and averaged $290,392.

Click to view Residential Market Update – February 2007