February 2007 Market Watch

Ok, so we do have some fair-weather home buyers, but the cold snap in February didn't dampen home shopping spirits too much.

February 2007 was the second-best ever for sales activity with 6,772 sales, just higher than 2006's 6,756 sales.

TREB President Dorothy Mason commented, "While the weather last month may have been cold, Toronto's resale housing market remained hot,"

"And while it is too early to make predictions, it is clear from the start of 2007 that the spring season is likely to produce sales numbers at least comparable to those of the past several years, which have been record or near record performances."

Meanwhile, average prices climbed four per cent over the previous month to $368,687 as sales activity accelerated. They were also up four per cent from the February 2006 figure of $353,928. The average time-on-market was a deep freeze of 35 days.

Check out the following areas to see average prices from February 2007 in your neighbourhood.

Neighbourhood Watch...

E02 -The Beach (coxwell, danforth, victoria park)
Detached: $578,038
Semi-detached: $427,005
Condo: $354,838

E03 - Danforth (north)(DVP, victoria park, danforth)
Detached: $426,450
Semi-Detached: $385,194
Condo: $149,926

E01 - Danforth (south) Riverdale (DVP, danforth, coxwell)
Detached: $456,936
Semi-Detached: $396,684
Condo:$289,240

C04 - Bedford West & Lytton Park (allen, 401, yonge, eglinton)
Detached: $896,730
Semi-Detached: $572,000
Condo: $264,703

C09 - Rosedale (yonge, st.clair, bayview, bloor)
Detached: $721,125
Semi-Detached: $579,909
Condo: $315,778

C03 - Forest Hill (allen, eglinton, yonge, st.clair)
Detached: $1,086,605
Semi-Detached: $360,800
Condo: $638,482

C12- Lawrence Park/Bedford East (yonge, 401, leslie, eglinton)
Detached: $1,569,439
Semi-Detached: n/a
Condo: $315,500

Source: Toronto Real Estate Board February 2007 MarketWatch - for the full report, click here.