Toronto Real Estate Board - February Month-End Sales Figures

Toronto, Ontario - March 05, 2012 - The Toronto Real Estate Board today released sales statistics for the month of February, 2012.

Members of the Board reported 7,032 sales for the month - a 16% increase over the same month a year earlier - though, 2012 being a leap year, there was one additional day versus February, 2011.

The average selling price pushed above the half-million mark to $502,508 - an 11% increase over the prior February.

The average listing sold for 99% of asking price, and the average "Days on Market" was 24, down from 27 Days a year earlier.

New Listings were up 11% to 12,684, though total listing inventory was virtually unchanged at 14,546 active listings - a relatively low two months of inventory.

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