The average selling price for February totalled $1,095,617, roughly five per cent higher than the average January price of $1,038,390.
The trend has pushed some buyers to purchase a lower-priced home.
Overall sales remain far lower than they were a year ago, when the market was soaring, buyers dropped conditions and feisty bidding conditions were the norm. New listings also lag figures from a year ago, amounting to 8,367 in February. That number is down 41 per cent from a year earlier, but TRREB sees changes coming.Ipsos polling the board has seen suggests buying intentions have picked up for 2023, said Jason Mercer, TRREB’s chief market analyst.Article content
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