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Welcome to spring! The real estate market is humming!
In spite of all our challenges this year, 2021 is looking bright.
Double-digit annual price growth was recorded through TRREB’s MLS® System in February 2021, a 52.5 per cent increase compared to February 2020 . The overall average selling price was up by 14.9 per cent to $1,045,488.
The condominium apartment segment saw a 64 per cent sales increase compared to last year, with a strong potential for more price growth in that market segment. And, low-rise detached, semi-detached and townhouse market segments in the suburban areas surrounding Toronto were the drivers of average price growth, with annual rates of increase above 20 per cent in all three cases.
In a forward-looking snapshot, TRREB Chief Market Analyst Jason Mercer said, “In the absence of a marked uptick in inventory, the current relationship between demand and supply supports continued double-digit average home price growth this year."
Talk about being in the right place at the right time!
While it’s not exactly business as usual during this very challenging time of the COVID-19 pandemic, it is always important to me to keep the lines of communication open with you, my valued clients. At Harvey Kalles Real Estate, we are committed to continuing to provide the best brokerage services to our communities and ensure that we are available to you by the safest means possible.
On behalf of myself and all of us at Harvey Kalles Real Estate, we extend our appreciation and gratitude to all the heroes on the front lines who support and protect us through this unprecedented time.
Stay safe, stay healthy.