February 2022

As per TRREB Market Watch Report, in February 2022, number of home sales went up by 61.4% compared to January 2022, which was a very slow month.  When we look at the year over-year change in number of sales, February 2022 was down by 16.8% from February 2021.

As per TRREB Market Watch Report, in February 2022, average sales price went up by 7.4% from January 2022.  The year-over-year increase in average sales price was 27.8%.

February home sales were down compared to the all-time record in 2021, but still were the second-best result for the month of February in history.  Number of sales dropped slightly more than the new listings dropped, indicating a move to a slightly more balanced market.  However, because inventory remains very low, competition between buyers will remain tight for a little while longer to support double-digit price growth year-over-year.

Please contact me with any questions on how to interpret this data or if I can provide further insight for your specific situation.  As a REALTOR®, I have access to a lot more information that I can present here.   I will do a deep-dive and extract the information you are looking for to make decisions.

Check out my summary chart for Toronto, Mississauga, and Oakville HERE.

Click HERE to see the full TRREB report.