Temperatures may still be frigid in the 416, but there’s a definite spring in the city’s step and in its housing market. Despite a dismal showing in local February Toronto real estate listings and sales, things are looking up as the first week of March draws to a close.
Detached house sales continue to improve, though at a slightly slower pace than recorded last week. A total of 90 homes changed hands, marking a 6 per cent increase from last month, and 8 per cent year over year. Demand is getting even hotter for the semi-detached segment, with sales up 12 per cent month over month and 75 per cent from 2018.
The numbers were a bit all over the map, however, for the townhouse segment, due to comparatively smaller levels of inventory. A total of 19 units sold, a decline of 21 per cent from February, though up 171 per cent from the seven that sold last year. Condos, however, continue to soften with 118 units sold, a decline of -31% month over month, and -9 per cent year over year.