Toronto continues to surge in February

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There’s no slowdown in sales in Toronto according to new data. Mid-month sales figures from the Toronto Real Estate Board show that the number of sales entered onto the TorontoMLS system during the first two weeks of this month was 14.9 per cent higher than a year ago with 3,120 home sales in those 14 days. The average selling price rose by 10.3 per cent to $$602,110. Lower borrowing costs are peaking interest for buyers but supply is still an issue. Jason Mercer, TREB’s director of analysis commented: “With tight market conditions continuing to prevail in most parts of the Greater Toronto Area, especially where low-rise home types are concerned, it is no surprise that we continue to see strong competition between buyers leading to robust annual rates of price growth.”

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