February Real Estate Market Update – Big News for Buyers & Sellers!
More homes sold in February than in January! 809 homes sold last month compared to 617 in January—momentum is building as we head into spring!
Major news! The Bank of Canada just cut the key lending rate by 0.25% to 2.75%!
This is great news for buyers and sellers, as lower rates mean more affordability and stronger market activity.
More inventory, more options! With 1,668 new listings in February, buyers have more choices without an oversupply, keeping demand high for sellers. Some neighborhoods still have limited availability, making well-priced homes sell quickly!
Market Stats You Should Know:
98.6% list-to-sale ratio (homes selling very close to asking price)
Median days on market: 19 days (still moving fast!)
More balanced market (60 days is considered fully balanced)
Spring Market Outlook: Expect an active market ahead, though some buyers and sellers may move cautiously due to the upcoming federal election and ongoing tariff uncertainties.
Thinking about buying or selling? Now is the time to take advantage of lower interest rates! Drop your questions below or DM me anytime!
