LOIC DANIS

  • HOME
  • WHY LOIC?
    • WHY LOIC?
    • ABOUT LOIC
    • MY SOLDS
    • WHAT LOIC'S CLIENTS SAY...
  • SEARCH MLS LISTINGS
    • SEARCH MLS LISTINGS
    • FEATURED LISTINGS
    • TORONTO WEST NEIGHBOURHOODS >
      • THE KINGSWAY
      • SUNNYLEA
      • MIMICO + NEW TORONTO
      • LONG BRANCH + ALDERWOOD
      • BLOOR WEST VILLAGE + BABYPOINT
      • HIGH PARK + SWANSEA
      • RONCESVALLES
      • THE JUNCTION
  • TORONTO REAL ESTATE NEWS BLOG
  • TOOLS
    • MORTGAGE PAYMENT + LAND TRANSFER TAX CALCULATOR
    • CLOSING COSTS
  • CONTACT LOIC
CONTACT LOIC
Sutton Group Old Mill Realty Inc. Brokerage | Independently Owned + Operated. | 4237 Dundas St West |
Etobicoke ON | M8X 1Y3

Picture

MARKET UPDATE | FEBRUARY 2023

3/6/2023

 
Picture
At the 1 year anniversary of the Bank of Canada’s first rate hike of 2022, the Toronto Real Estate market appears to be finding it legs.  As expected when comparing to the peak of early 2022, the number of sales in February 2023 were down significantly [-46%] and selling prices remained down -12% when compared to February 2022.  However, when comparing the same metrics to last month [January 2023], February 2023 data reported +57% growth in sales and +8% growth in average price.  Of particular note, average prices in Toronto’s detached market segment grew +15% in February 2023 vs. January 2023.


It is expected that as Buyers who previously put their purchase on hold come back to the market, this   increased demand will run up against a constrained supply of listings and lead to growing competition for Buyers. With time, this growing competition would likely lead to renewed price growth in many market segments.


Looking to buy or sell a home in Toronto?  Average prices in February were as follows:


➕Detached $1,712,364 [-17% vs. 2022]
➕Semi-detached $1,1280,380  [-15% vs. 2022]
➕Townhouse $1,005,342 [-11% vs. 2022]
➕Condo $728,271 [-11% vs. 2022]

Data presented is for City of Toronto Only.   Source: TRREB.

Picture

Comments are closed.

    LOIC DANIS

    Loic Danis is a Toronto Real Estate Broker and Broker of Record/Owner of Sutton Group Old Mill Realty Inc. specializing in residential and investment real estate in Downtown Toronto, Etobicoke + West Toronto neighbourhoods including The Kingsway, Babypoint, Sunnylea, Swansea, Roncesvalles, High Park, Swansea, New Toronto, Mimico, Waterfront Communities, Yorkville, St. Lawrence Market, Bay Street Corridor and more! 

    Categories

    All
    Banbury-Don Mills Real Estate
    Bay Street Corridor
    High Park - Roncesvalles
    Just Listed
    Lawrence Manor Real Estate
    Market Outlook + Year In Review
    Market Update
    Mimico Real Estate
    Mineola
    Mississauga Real Estate
    Mount Dennis Real Estate
    Palmerston - Little Italy
    Sunnylea Real Estate
    Toronto Condos
    Toronto Real Estate
    Waterfront Communities Real Estate

    RSS Feed

CONTACT



LOIC DANIS
Broker of Record

Direct | 416-671-0300
Office  | 416-234-2424

Sutton Group Old Mill Realty Inc.
Independently Owned + Operated

CONTACT LOIC

NEIGHBOURHOOD SEARCH


THE KINGSWAY
SUNNYLEA
MIMICO + NEW TORONTO
LONG BRANCH + ALDERWOOD
BLOOR WEST VILLAGE + BABYPOINT
HIGH PARK & SWANSEA
RONCESVALLES
THE JUNCTION

NEWSLETTER SIGN UP


COPYRIGHT © LOIC DANIS 2017
Site Design by The Real Estate Marketing Shop