It has been another strong week overall for Greater Toronto sales, with activity up across the board in the 905 markets. However, in the City of Toronto, single-family home sales slowed somewhat, likely due to a lack of inventory rather than declining demand, as too few new listings put the squeeze on buyers.
A total of 66 detached houses traded hands in the city, up 14% from the same week in January, but -10% below last year’s levels. Sales, however, were up in the 905 with 326 transactions, an increase of 19% month over month and 23% year over year. Semi-detached houses, of which there are far fewer available, also saw a dip over the long-term; a total of 16 sold in the 416, down -16% m-o-m and -45% y-o-y. In the 905, 69 sold up 28% m-o-m and 17% y-o-y.
It was a strong week for Toronto townhouses with 23 units changing hands, up 77% on both a monthly and annual basis. In the 905, a total of 53 sold, up 23% both m-o-m and y-o-y, respectively. As well, condo units continue to be in high demand – a total of 119 units sold in the 416, down -11% m-o-m and up 19% y-o-y, while 175 sold in the 905, down -11% m-o-m and up 18% y-o-y.