Market Release - February Stats

Hi Everyone,

I hope everyone is happy, healthy and just as comfortable as the real estate market.

Fresh off the press, February's MLS statistics - these numbers confirm that real estate is LOCAL.

"If we want to know the weather, we don't listen to the Toronto radio and TV networks - we listen to our local experts - the same should be true for real estate".

February's listing inventory, which is the number of listings currently on the market increased by 24%. This means that buyers had more properties to choose from than last February, which should indicate a more balanced market place. It's fantastic to be a buyer!

The number of sales processed in the month was 672, eight less than last year at 680, and dollar volume was down 2% at $172 million vs. $176 million in February 2014.

Most active price range was $250,000 to $299,999 and took 22% of the market, average days on market for residential-detached sales was at 34 days, one day quicker than last year. 

The dominant price range in condominium sales was between $150,000 to $199,999 - it captured 33% of the market, followed by $250,000 to $299,999 at 23% of sales. 

I hope this information has been helpful to you. For a more personal assessment of your situation and a free market evaluation, please call me - I am always happy to help!

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