The number of sales has continued to rise month-over-month across the TREB reporting area from December through February. Year-over-year, however, the number of sales has decreased slightly by 2.4% to 5,025, versus February of last year with sales of 5,148 homes. Also, a decline of 6.2% for new listings from a year earlier may be suggesting to industry analysts that the OSFI mortgage rules are keeping buyers on the sidelines. With that said, weather may have been a factor this winter as many homeowners chose not to list during the snow and cold temperatures.

Across TREB, the average selling price for all home types increased to $780,397 which is up 4.29% from last month, and 1.64% from last year. The semi-detached segment was the best performer with average prices rising 9.9% on the year. Condo sales continue to drive the market with 1,064 total sales.

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