Home sales were 36.2 per cent above the five-year average and 48.3 per cent above the 10-year average for the month of February.
“Demand for resale homes in our region continues to be incredibly strong.
“Although the number of newly listed properties in February was in line with what we expect for this time of year, overall inventory is still hovering only slightly above the lowest level on record.
The overall MLS® HPI composite benchmark price was $610,900 in February 2022, a substantial gain of 32.7 per cent compared to February 2021.
The average price of homes sold in February 2022 was a record $774,689, a jump of 32.6 per cent from February 2021.
Months of inventory numbered 0.6 at the end of February 2022, down from the 1.1 months recorded at the end of February 2021 and below the long-run average of 5.4 months for this time of year.
QDAR’s Vision is to progressively build a better future for our REALTORS® and the communities they serve.
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