February Market Update

Friday Mar 03rd, 2023

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TRREB's Market Watch Report for February 2023 Now Released 👀

GTA REALTORS® reported 4,783 sales through TRREB’s MLS® System in February 2023 – down 47% compared to February 2022, the last full month before the onset of interest rate hikes. The number of new listings entered into the system was down by a similar annual rate of 40.9% to 8,367.

The average selling price for February 2023 was $1,095,617 – down 17.9% compared to February 2022. Some of this decline is attributable to the fact that the share of sales below $1,000,000 was 57% in February 2023 versus only 38% a year earlier.

🔍 Market Stats Quick Overview:
📎 Total Sales: 4,783 ⬇47.0%
📎 Avg Sold Price: $1,095,617 ⬇17.9%
📎 Avg DOM: 22 days ⬆144.4%
📎 New Listing: 8,367 ⬇40.9%

#realestate #Seller #Peel #condotoronto #GTA #Investment #RealEstateNews #Canada #newcondos #York #Toronto #buyers

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