Your Weekly Toronto Real Estate Snapshot: Feb 12 – Feb 18, 2020

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Photo by Lewis Parsons on Unsplash

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.

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