TRREB's Market Watch Report for February 2023 Now Released š
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.
š Market Stats Quick Overview:
š Total Sales: 4,783 ā¬47.0%
š Avg Sold Price: $1,095,617 ā¬17.9%
š Avg DOM: 22 days ā¬144.4%
š New Listing: 8,367 ā¬40.9%
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