Ontario Real Estate Association (OREA) Insights

Ontario Home Sales Rise to New February Record

According to the association,

*Residential sales increased 15.8 per cent in February 2016 in comparison to last February

*The provincial average home price in February 2016 rised 12.7 per cent from last February

*The number of new listings in Ontario was 25,384 units in February 2016 which represents a 3.8% increase

Unit Sales

Residential sales activity reported through the MLS systems of real estate boards and associations in Ontario numbered 15,680 units in February 2016, a 15.8% increase from last year.

Newly Listed Units

New listings on the MLS systems of real estate boards in Ontario came in at 25,384 units last month which represents a 3.8% increase from February 2015.

Average House Price

The provincial average price for homes sold in February 2016 was a record $511,967,increasing 12.7% from a year earlier. This was the first time the monthly average price figure had ever topped $500,000.

Reference: OREA