Our Real Estate Update February 2024

The Greater Toronto Area (GTA) housing market witnessed a strong surge in activity throughout February, setting an optimistic tone for the region's real estate market as we move into Spring. With a total of 5,607 homes sold, representing an impressive 33% increase from the previous month and a notable 17% rise compared to the same period last year, the market demonstrated renewed vigour. Heightened sales activity translated into a substantial uptick in property prices, with the average home fetching $1,108,720—an impressive monthly increase of $82,017. Notably, this 8% gain marks the largest month-over-month increase since February 2022.

In this month’s edition of our Real Estate Facts & Figures, we have put together the stats for February 2024 including the latest Royal LePage Market Update Report.  If you have any questions or would like to know what your home is currently worth, please don't hesitate to contact us.