Spike in February 2016 GTA Sales

The Greater Toronto Area saw a strong surge in sales, up by 21.1% compared to the same month in 2015 with 7,621 transactions. New listings were up by 8.2 per cent, a slower pace than a year earlier.

"Even after accounting for the leap year day, sales were above the previous record for February set back in 2010. Sales were up strongly from the 15th day of the month onward as well, despite the new federal mortgage lending guidelines coming into effect that require at least a 10 per cent down payment on the portion of purchase prices between $500,000 and $1,000,000," said TREB president Mark McLean.

 

Johnny Lam

Johnny Lam

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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