The Greater Toronto Area (GTA) housing market witnessed a strong surge in activity throughout February, setting an optimistic tone for the region’s real estate market as we move into Spring. With a total of 5,607 homes sold, representing an impressive 33% increase from the previous month and a notable 17% rise compared to the same period last year, the market demonstrated renewed vigour. Heightened sales activity translated into a substantial uptick in property prices, with the average home fetching $1,108,720—an impressive monthly increase of $82,017. Notably, this 8% gain marks the largest month-over-month increase since February 2022.
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