February saw more properties come to market in advance of the normally busy Spring market.
Both for sale and for lease properties took longer to complete. The cold weather and significant snow fall did not help either. Also recent immigration restrictions may further cool the market.
The rental market saw 307 leases during the month which was exceptional, ranging in price from $1500 to $12,000/mth.
In addition, the ultra luxury segment (properties above $3,000,000) was virtually non existent compared to prior month activity.
The average price for a detached 2-storey home was $2,230,725 down almost 13% from a year ago with 53 homes changing hands. Detached bungalows averaged $1,702,636 up about 12% with 11 sales.
Other styles of housing were as follows;
Condo apartments $713,650 Condo THs $782,462 Freehold THs $1,100,939 Semi-detached $1,056,750
Link homes not as common with just one sale at $1,250,000
Detached split level homes $1,581,714
It's great to have the Ontario election behind us sa well as the Liberal leadership race coming to a conclusion so our politicians can focus on President Trump's proposed tariffs.
Expect to see more activity as the weather improves.
