VIPSales.ca

The market in the GTA tightened this February compared to last year. Sales were down slightly, but the bigger story is that new listings dropped even more, meaning fewer homes are coming to market.
According to the Toronto Regional Real Estate Board, many buyers are still waiting for prices to stabilize before making a move. At the same time, there are over 100,000 buyers on the sidelines, so if listings stay low heading into the spring market, we could start to see more competition again.
The average selling price in February was $1,008,968, about 7.1% lower than last year.
Overall, the market is still in a bit of a wait-and-see phase, but there’s definitely pent-up demand building.
If you’re thinking about buying or selling, I’d be happy to share how these trends could impact your plans.
Jey JeyKumar
BSc.Eng(Civil), REALTOR®
647 720 9266
RE/Max Realtron Realty Inc., Brokerage
209-885 Progress Ave, ON, M1H 3G3
www.propertydreams.ca