OTTAWA – The hot market in Toronto plus the surrounding areas assisted push home gross sales up last month on their highest mark throughout nearly a year.

The Canada Real Estate Association states that home sales despite the fact that its MLS product hit their maximum level since very last April, gaining 5 various.2 per cent in February compared to The month of january.

The association says March sales were way up from the previous thirty day period in about 70 % of all local marketplaces it measures, with the country wide increase driven because of the Greater Toronto Area and adjoining regions.

CREA president Ledge Iverson says homes can advertise briskly throughout the Greater Toronto Area and nearby towns, but elsewhere, levels of competition among potential buyers is usually less intense, so sale listings take longer to sell.

Compared by using a year ago, sales have been down 2.6 per cent from March 2016 due to a slowdown throughout B.C.’ersus Lower Mainland place.

The national average cost for a home purchased in February was $519,521, away 3.5 per-cent from a year ago, enhanced by Greater Vancouver and Greater The gta.

Excluding those two markets, the nation’s average price has been $369,728.