February proves to be a busy month for home sales transactions, surpassing February 2020 by over 50%, according to a recent report by the Toronto Regional Real Estate Board.
Compared to last year, total residential real estate transactions throughout the Toronto area have increased by an astounding 52.5% compared to this time last year. While February 2020 totaled 7,193 sales, February 2021 rose to 10,970 residential real estate transactions according to the report.
Comparing these statistics to January 2021, another above-average winter month for Toronto, transaction activity saw a 15.9% increase in residential real estate sales, according to the report.
Also noteworthy is the number of new listings available and average selling price compared to this time last year. Where last year at this time there were 10,618 active listings, February 2021 displayed 15,137 listings. A 42.6% increase. The average selling price has also risen to $1,045,488, a 14.9% increase compared to last year at this time.