Canadian Real Estate In February

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By Elli Davis, March 15, 2010

Canadian real estate did not do really great in February, according to the data published by The Canadian Real Estate Association. The number of homes sold through the Multiple Listing Service was exactly 42,799, which means a 1.5 percent decline from January.

Vancouver and British Columbia as such performed quite poorly. On the other hand, Toronto did very well. As for actual residential sales activity in Canada (36,275 units) it increased by 44 percent this February from February last year. Especially Ontario (hooray) and Quebec were great. However, the year over year rise was lower in February than during previous three months.

Regarding average home price last month, it was $335,655, and that suggests an increase of 18.2 percent from a year before. Residential average price in major markets of Canada rose by 18.7 percent from last February. Not terrible overall results, but not excellent either – not a big decrease but still a decrease. Nevertheless, I’m glad Toronto did not disappoint.