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Sun’s out, buyers out: Toronto seems to have finally escaped the lingering jaws of winter, and signs of a strengthening spring market are evident in the first week’s-worth of May housing sales data.
Year-over-year activity remains below 2017’s activity by double digits. But expect this gap to moderate soon, as the impact from the Ontario Fair Housing Plan starts to come into play.
Month-over-month paints a cheerier picture with improved demand across all home types from April.
Detached houses for sale in Toronto are seeing a healthy uptick, with 204 homes sold. This is a 38-per-cent increase from the same time period last month.
Semi-detached homes also had a strong showing at an increase of 46 per cent — but keep in the relatively low inventory for this home type as just 79 exchanged hands.
Multi-family housing types also posted gains, though sales are softer than the double digits experienced in March and February.
Toronto condos rose eight per cent at 280 units sold, while townhouses are up 11 per cent, with 42 units exchanging hands, compared to 38 last month.