Market Watch - February 2019

February 2019 Market Watch 

Data from the Toronto Real Estate Board reported 5,025 homes sold in February, down by 2.4 % on a year-over-year basis.   New listings also declined by a greater annual rate. 

The average selling price was up modestly on a year-over-year basis.  The average selling price for all home types combined was up by 1.6% year-over-year.  Price growth was driven by the condominium apartment segment and higher density low-rise home types.  On a preliminary seasonally adjusted basis the average selling price was down compared to January 2019.

The rental market continued to be on high demand.  The average one-bedroom rent was up by 8.1% to $2,145.  The average two-bedroom rent was up by 7.4% to $2,810. This is an increase well above the rate of inflation on a year-over-year basis for the January/February period.

In this video, Jason Mercer, Director of Market Analysis at TREB, discusses the Market Watch Report for February 2019.   https://www.youtube.com/watch?v=tD9w89kKa7g

To view complete report, please click on this link  http://www.trebhome.com/market_news/release_market_updates/news2019/nr_market_watch_0219.pdf

Source:  Toronto Real Estate Board   

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