Your Weekly Toronto Real Estate Snapshot, Powered By Zoocasa (Mar. 6 – 12)

toronto home

Home sales are looking up over the short term, with improved activity for all home types during the same time period in February. It is, however, proving to be a slower end-of-winter market than experienced in 2018, with year-over-year declines across the board.

Month-over-month growth in demand was strongest for single-family home types. Detached house sales rose 23 per cent with 70 homes sold. Despite the month-over-month growth, sales were down -20 per cent from last year. It was a similar trend for semi-detached homes which saw a strong short-term improvement of 79 per cent with 25 sold, -36 per cent below where they were in 2018.

Townhouses experienced a whopping 133 per cent increase in sales, but only saw an additional 14 change hands, up from six in February, a reflection of how trends can be more volatile for home types with lower levels of inventory. Year-over-year performance of townhomes remained 7 per cent below the same time in 2018 as it did for condos for sale in Toronto; with much of the demand focused on homes in higher price points, the number of units rose only 2 per cent with 122 sold.

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