February 2009 Toronto Real Estate Market Statistics

George O’Neill reviews the market statistics reported by the Toronto Real Estate Board outlining February 2009 housing resales.  Although the number of sales are down about 26% from the same time last year, the decline has slowed relative to January this year versus January last year.  As well, prices are down about 5% on average across Toronto comparing February this year to last year, while the January prices were off about 8% from last year at the same time.  Two months of data does not necessarily make a trend, but is indicative I believe as we head into the traditional stronger spring market that the pace of decline has perhaps slowed.  If you have any comments or questions please email George@GeorgeONeill.ca or leave a comment on this blog post.  Question of the day:  ”Do you think the market will improve during the spring market, or will the market continue to decline?” Please leave your answer as a comment.

Related posts:

1. Mid February 2009 Toronto Real Estate Market Statistics
2. Toronto Real Estate Market Statistics Update – Mid January 2009
3. Toronto Real Estate Market Watch Report – January 2009
4. Careful! Real Estate Market Statistics Can Be Misleading
5. September Toronto Real Estate Market Statistics