Good news if you own a home, but not so good if you're looking to buy.
New numbers from the Toronto Regional Real Estate Board show home prices in the GTA jumped by 16.7 percent last month over February of last year.
We haven't seen this kind of year-over-year price growth in almost three years.
The average price of all home-types across the GTA was $910,290. The average detached home in Toronto was worth $1.485 million.
There was also a huge increase in the number of homes sold, up 45.6 percent but it's worth noting that February 2019 was 10-year-sales low.
Experts are not expecting the market to slow down any time soon.
The Bank of Canada is due to make an announcement on interest rates today. Many economists are expecting a rate cut, likely leading to lower mortgage rates.
TRREB also says that effects of the 2017 Fair Housing Plan and the mortgage stress test have, "largely worn off."