Housing Market Recap Greater Toronto Area February 2018
The average selling price in the Greater Toronto Area in February 2018 fell by 12.4% compared to the same period in 2017. Sales decreased by 34.9% which is a result of tighter lending rules and market uncertainty. There are 42% more active listings on the market compared to last year which suggests that there are even more buyers and sellers who are waiting on the sidelines to see how the market plays out. On another note, it took 25 days on average for a home to sell in February which is down from 36 days in January.