Mar 03, 2021
By Jane Brown
Just when you thought Toronto’s housing market couldn’t get hotter, it’s heated up again.
The latest Toronto Regional Real Estate Board report says the average home price in February surpassed $1-million for the first time; a 15 percent increase from February 2020.
In addition, the number of February home sales was just under 11,000; a more than 52 percent jump from the just over 7000 homes sold in the same month last year.
TRREB President Lisa Patel says it’s clear that the historic demand for housing experienced in the second half of last year has carried forward into the first quarter of this year with some similar themes, including the continued popularity of suburban low-rise properties.