"The Toronto Regional Real Estate Board says 3,868 homes changed hands in February, down 6.3 per cent from the same month last year, as sales also declined one per cent on a seasonally adjusted basis from January. The average selling price was down 7.1 per cent from February 2025 to $1,008,968, and the composite benchmark price, meant to represent the typical home, was down 7.9 per cent year-over-year."
"TRREB president Daniel Steinfeld says that if new listings continue to trend lower through the spring, competition between homebuyers will increase, which could in turn lead to higher home prices and an upswing in sales. There were 10,705 new listings on the market in February, down 17.7 per cent from last year."
The Greater Toronto Area real estate market experienced a significant slowdown in February. Home sales totaled 3,868 units, representing a 6.3% decline year-over-year and a 1% seasonal decline from January. Average selling prices fell 7.1% to $1,008,968, while the composite benchmark price dropped 7.9% compared to the previous year. New listings decreased substantially by 17.7% to 10,705 units, and total active inventory declined 2.4% to 19,414 listings. Market analysts attribute the slowdown to buyer hesitation, with potential purchasers waiting for prices to reach bottom before committing to transactions.
Read at www.cbc.ca
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