The snow may be flying and so too are home sales. Real estate activity shot up in the third week of February, with short and long-term improvement seen across most home types.
Detached homes for sale in Toronto saw a 42 per cent improvement from last week with 78 houses sold. Month-over-month and year-over-year, detached homes increased by 7 and 20 per cents respectively. It was also a good week for semi-detached homes with 25 changing hands, an increase of 25 per cent week-over-week, 4 per cent month-over-month, and a booming 56 per cent year-over-year.
Results were mixed in the multi-family segment; townhomes saw only 10 units sold, down -44 per cent monthly and -17 per cent yearly, though up 11 per cent from last week. Condos, however, are bouncing back with a whopping 93 per cent uptick from last week with 133 units sold – that’s up 8 per cent from last year, though relatively flat from January activity at -1 per cent.