The GTA market is in for a record setting February in terms of sales and price growth for both the Condo and Residential Freehold segments. See our key highlights below:
- The condo market is coming back into full swing as there is renewed optimism in this segment again which is great news
- Lower istings in Feb is helpful in lowering the overall supply and stimulating more demand
- Condos Sales for Feb 2021 are on pace to beat the previous year by more than 20% which shows us the rebound back of this housing segment
- The Selling price to list price We have seen the selling price to list price for Feb in the GTA is at 102.7%
- Average price is on its way back up and is only 2.5% off from the previous year
- These property types continue to be remain red hot and showing us that we are in an unprecedented Overheated market
- New listings are down for the first 15 days of the month which signals less available product and more price pressure
- February 2021 is on track set a new record month for sales which are on pace to beat Feb 2020 by more than 30%
- We have seen the selling price to list price for Feb in the GTA is at 108.6% - very overheated
- Average price is just under 20% over the previous year
The GTA housing market is certainly RED HOT for residential freehold properties and it is good to see the bounce back of Condos.
If you have any questions on our report, please do not hesitate to contact us.