Last month saw a surge in new listings while sales activity reached a record high for the month with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months levels. However, with only one month of supply, the market continues to favour the seller.
The residential benchmark price for the city rose by nearly 6% over January levels and was over 16% higher than levels recorded last February. Much of the growth has been driven by the detached segment of the market which has not seen conditions this tight in over 15 years.
Contact me with your questions as to how this impacts your buying or selling decision!