Toronto Real Estate Snapshot, Powered By Zoocasa (Oct. 23 – Oct. 29)

decline

Home sales activity continues to cool from a year-over-year perspective as we head deeper into the autumn season and fading daylight makes for less ideal showing conditions. Month-over-month sales fell across all home types in both the City of Toronto and the 905 region, which includes the Brampton, Halton, and Mississauga real estate markets. However, all home types posted year-over-year gains with the exception of semi-detached houses, signalling the market continues to recover over the long term.

A total of 118 detached houses traded hands in the 416, down -57 per cent from September, though up 27 per cent from the same week in 2018. In the 905, a total of 454 sold, tumbling -27 per cent month-over-month, though up 29 per cent year-over-year. However, just 39 semi-detached homes sold in the city, dropping -56 per cent month-over-month, and -7 per cent year-over-year. Performance was similar in the 905 with 85 sold, down -38 per cent month-over-month and -7 per cent year-over-year.

It was a strong week for the townhouse segment, with 27 sales in the 416 – while marking a -27 per cent month-over-month decline, that’s up a robust 69 per cent year-over-year. In the 905, a total of 73 sold, down -10 per cent month-over-month and up 40 per cent year-over-year. Condo units also saw some long-term improvement with 158 sales in the 416, down -27 per cent month-over-month and up 34 per cent year-over-year. In the 905, 243 units sold, down -27 per cent month-over-month, and up 16 per cent year-over-year.

More from Penelope Graham

Beating B-20: Should home buyers rush in?

Time is ticking, home buyers — new rules are coming on Jan....
Read More