The mid-month Toronto housing market report is in.
Toronto saw positive gains for detached homes and condo townhouse sales, compared to the first two weeks of August in 2017, but it also saw some losses, in the latest analysis just released by Zoocasa.
READ: Canadian Home Sales Boosted In July, Led By Greater Toronto Area
Sales for Toronto townhouses and detached houses in the 416 are going particularly well, up 31 and 12 per cent from last year at this time. The Greater Toronto Area is also doing well in that regard, with nine and 17 per cent increases in sales of those respective listings.
Toronto condos, on the other hand, are flat, but still up six per cent across the GTA. While, so far this August, fewer semi-detached houses sold, down over 20 per cent across Toronto and the GTA.
It's not surprising that sales have declined for all properties compared to the first two weeks of July. Summer is a typically slow period for real estate.
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It's likely numbers will pick up in the fall, when Torontonians head home from the cottage and return to their work and school routines.
Also of note, supply has increased compared to the same period last year.
Here are some key findings from the mid-month Toronto home sales report:
- Detached houses: Sales are up 12 per cent in the City of Toronto (213 vs. 190 last year) and up 17 per cent in the GTA (982 vs 838 last year).
- Condo townhouses: Sales are up 31 per cent in the City of Toronto (51 vs. 35 last year) and up nine per cent across the GTA (164 sales vs. 151 last year).
- Condo apartments: Sales are flat in the City of Toronto (410 vs. 409 last year) and up six per cent across the GTA (615 sales vs. 580 last year).
- Semi-detached houses: Sales dropped 23 per cent in the City of Toronto (56 vs. 73 last year) and fell 21 per cent in the GTA (207 vs. 163 last year).
