House sales on the up across Canada

Recent sales figures for residential real estate in Canada assures the country’s property professionals that confidence remains strong among buyers and sellers alike following an uplift last month from January.

The findings from CREA (Canadian Real Estate Association) reveal resale activity edge 1.4 per cent higher during February and actual resale activity had increased by more than 8.5 per cent from a year earlier on a countrywide basis.

The average price of property in Canada is 2 per cent above that of a year ago the national average price reached $372,763, and while some regions saw higher numbers of new listings during last month especially in Montreal and Toronto there was a slight reduction in fresh listing for Vancouver.

Demand for single family homes is prevalent in several markets including Toronto where a level balance between supply and demand is supporting the upward direction of prices of residential property in Canada