Toronto Real Estate Board Posts Record Sales In February

Large 1-bdrm + den & solarium overlooking the lake coming for sale in a week

Although the official Toronto Real Estate Board statistics haven’t been released yet, preliminary estimates show that February had record sales above 7,200 houses and condominiums.

The main problem is inventory… there were just over 14,400 listings on the market during the month – down 32% from one year ago (not a reasonable comparison due to the economic situation then) – but also down from 18,000 homes for sale in February 2008.

These days we’re encountering multiple offers due to listing agents deliberately underlisting homes almost 90% of the time!  Not fair to buyers and no real advantage to sellers!

Check back with us by the end of the week for the full Toronto Real Estate Board statistical analysis.

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