Toronto Real Estate Snapshot, Powered By Zoocasa (May 1 – 7)

toronto home

Bring on the sunshine! The spring market has been lagging due to a chillier-than-typical May, with sales for most home types dipping in comparison to the same time frame last month. From a year-over-year perspective, sales activity is looking up, a sign that the market continues to recover from the housing and mortgage policies that have significantly cooled demand from the 2016 – early-2017 peak.

Detached houses for sale saw the biggest surge from last year with 142 transactions, marking a 43 per cent increase. However, that’s still down -7 per cent from April. A total of 48 semi-detached houses sold during the week, an increase of 14 per cent from 2018, and also up 7 per cent from last month. Both townhouses and condos also experienced strong annual gains, with sales of 24 and 179 units, up 9 per cent and 13 per cent, respectively, though below last month’s levels by -25 per cent and -6 per cent.

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