February 2022 Real Estate Report

By: Jesse Jenish

February 2022 Real Estate Report

Tags: TORONTO REAL ESTATE, MARKET UPDATES

February 2022 IN REVIEW
 

February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year.

TRREB released its monthly key housing market stats for February 2022 and reported 9,097 sales, down by 16.8% compared to February 2021. 

Over the same period, new listings were down by 6.6% to 14,147. 

The average selling price for all home types combined was up by 27.7% to $1,334,544.

If you have any questions or would like to find out if it's the right time for you to buy or sell, don't hesitate 
to give me a call or text at 647-522-9057 or send me an email to jesse@jessejenish.com.