Hot Toronto real estate market helps push home sales up last month, CREA says
OTTAWA — The searing real estate market in Toronto and the surrounding areas helped push home sales up last month to their highest mark in nearly a year, the Canadian Real Estate Association said Wednesday.
Home sales though the MLS system hit levels not seen since last April, gaining 5.2 per cent in February compared to January.
The association said February sales were up from the previous month in about 70 per cent of all local markets it measures, with the national increase driven by the Greater Toronto Area and surrounding regions.
The national average price for a home sold in February was $519,521, up 3.5 per cent from a year ago, boosted by Greater Vancouver and Greater Toronto. Excluding those two markets, the national average price was $369,728.