February 2015: Sales Have Increased Despite The Extreme Cold

Harbourfront condo by josullivan 59
Harbourfront condo by josullivan.59

Last month we had some serious winter apocalypse weather here in Toronto. However, despite the fact that in some places the snow mass was actually higher than 2 storey houses, the real estate market kept rising. That's interesting because that means some people were literally buying something they couldn't see.

February 2015 Real Estate Market Report Infographic

The number of sales in City of Toronto has increased by 10.96 per cent in comparison to February 2014 and the rising demand has also influenced the overall average selling price which grew to $630,858 - an 5.25 per cent increase compared to last year.

Jason Mercer, the Director of Market Analysis of Toronto Real Estate Board has stated that:

"The strong year-over-year price growth we experienced in February points to the robust demand for ownership housing in the GTA, coupled with a constrained supply of homes for sale in some market segments, especially where low-rise home types like singles, semis and townhouses are concerned."

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