As the weather warms and the snow melts, we are seeing a lot more activity in the marketplace. 3,868 homes sold in February, but the big news is that fewer homes were listed, 17.7% down from 2025. There is a lot of pent-up demand in the GTA, (estimated to be 100,000) with buyers waiting for prices to level off, and the number of listings in the marketplace is a major factor in price. As new listings continue to trend lower through the spring, competition between homebuyers will increase, which will create an upward pressure on prices.
With 2 months of home sales done, detached home sales have averaged $1,304,072 and represent 43.7% of all sales. Condominium apartments represent 28% of the sales at an average price of $617,010. If you are considering a purchase in one of these 2 categories, I believe the real estate market has turned the corner and prices will start to edge upward. Houses in good locations, priced at market levels are selling immediately. Houses that are in poor locations and/or overpriced are not selling. Similarly with condominiums. Poor locations or small units under 500 square feet are having challenges in selling and represent a great investment opportunity.
One man’s challenge is another man’s opportunity! Yes, we have turmoil in the world. Old and new. Yes, we are all worried about the outcomes. It seems to be the human condition. However, we do live in Canada. A great country that is built on respect and acceptance of all cultures. Our population is growing, both through birth and immigration. Our prices have been stagnant because of higher than usual interest rates and the politics of countries around us. But this too shall pass. I believe that now is a great opportunity to get into the market before everyone else decides to do so.
If you are looking to buy or upgrade, give me a call. Let me show you the reality of the market and give you the information that you need to make a good decision for you and your family. If you know of someone who is considering buying or selling, give me a call. I will take extra good care of them!
Have a great March!
