The Toronto housing market is starting to firm up in the short term, as the Family Day long weekend has passed and buyers and sellers look ahead to the start of the official spring market. With the exception of condos, all home types saw week-over-week improvement, though longer-term sales performance is still mixed at this stage.
Demand for detached houses continues to strengthen with 55 units sold, 31 per cent more than during the same week in January, and 8 per cent more than in 2018. However, that’s slightly under the activity seen last week by 4 per cent. Semi-detached houses had a more volatile week due to the segment’s overall lower inventory. A total of 20 units sold, marking a 67 per cent uptick from last month and 43 per cent from last week, though down 9 per cent year over year.
Townhouses for sale in Toronto saw activity rise by half in the short term with nine units changing hands, a week-over-week gain of 50 per cent, though down 10 per cent monthly and 53 per cent from last year. Condo sales, on the other hand, saw declines across the board with 69 units sold, a plunge of 30 per cent month over month, 42 per cent year over year, and below last week’s activity by 43 per cent.