Amy Loughran
287 Davenport road M5R1J9 Toronto, ON, Canada

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Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto. GTA REALTORS reported 10,970 sales through TRREB’s MLS System in Fe...bruary 2021 a 52.5 per cent increase compared to 7,193 sales reported in February 2020.Looking at all areas of the GTA combined, the condominium apartment segment led the way with a 64 per cent sales increase compared to last year, with similar rates of increase in the ‘416’ and ‘905’ area codes. The MLS Home Price Index Composite Benchmark was up by 14.8 per cent year-over-year in February 2021. Over the same period, the average selling price was up by 14.9 per cent to $1,045,488. While market conditions were tight throughout the GTA region in February, the detached, semi-detached and townhouse market segments in suburban areas were the drivers of average price growth, with annual rates of increase above 20 per cent in all three cases. As of recent, the condo market has swung to a sellers market almost overnight. As freehold home prices become more and moreexpensive, people are looking for more affordable options. History has shown us that when the price gap between condos and homes gets too large, it naturally begins to return to a more sustainable separation. Time is ticking for affordable condos, if you're thinkingof buying now is the time. Do you have any questions about the current market in the GTA? I am always here for you! Search All Homes:bit.ly/ListattoSearch Ask Me Anything:[email protected] Caption Source: bit.ly/3bpZvLu . . . #marketupdate #torontomarketupdate #torontorealestateupdate #torontohomes #torontohomeshow #torontohomeseller #torontohomesforsalecanada #torontohomestaging #torontohomesforsale #torontohomestager #torontohomeshows #torontohomesales #torontohomes24 #torontohomestyle #torontohome

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