Real Estate Market Update For February 2021

Durham Region continues to steal the spotlight for its incredible growth throughout the beginning of 2021. However, York Region is nipping closely at its heels. In comparison to February 2020, the average home price for all home types in Durham Region was up 36.1%. What’s even more compelling? The average price of a detached home in Pickering tipped over the million-dollar mark ($1,008,209). In previous months, Oshawa held the record for the biggest pricing gains, but this month, Whitby and Clarington are holding the top spots.

North of City, York Region is continuing to see strong growth with the average pricing increases rising by 20-30% for most home types in a year-over-year comparison. In central Toronto, detached homes have seen the strongest gains compared to this time last year, with the average price coming in at $2,458,081. In the west end, the average days for detached and towns is down by 6-7 days. Lastly, in Toronto East, detached homes saw the steepest increase in average sales price over other home types with a 19.7% increase year-over-year.

 

 

 

 

 

 

With vaccinations underway and the spring market on the horizon, we’re keeping a close eye on how these factors will impact the housing market in the upcoming months.

Homes are hitting record prices but they won’t sell themselves. Are you ready to realize your home’s true potential? We can help. Give us a call today!