Turned out to be a very active month with positive results for sellers.
Prices were up with detached 2-storey homes and bungalows selling on average for $2,520,009 and $1,511,053, respectively. That's up 14% and 16% in one year!
The ultra luxury segment, those selling above $3,000,000 saw 33 sales this February. Almost three times as much as February 2023.
Condo apartments average $865,439 up over 4% from a year ago. Even the average sale price for a condominium Stacked TH was $710,750.
Time to sell took on average 33 days. That's about a week longer than February 2023
Other home styles sales averaged as follows:
Freehold THs $1,266,467 / C-THs $1,010,300 / Semi-detached $1,628,250 / Links $1,315,000
and Split level homes averaged $1,906,333
The rental market was also very active with 166 transactions compared to 69 a year ago.
It was also nice to see some of the lingering properties from last Fall find buyers this year.
It looks like it will be a very busy Spring with a lot of sellers coming to market to satisfy the waiting buyers.
