It’s shaping up to be a stronger August than last, with another week of solid year-over-year gains across all home types in the City of Toronto and surrounding markets including the Oshawa real estate market, Pickering, and Mississauga. However, seasonally slower conditions are present as we enter the dregs of summer, with activity subdued compared to July; this will likely turn around following the Labour Day long weekend, as the brisk September market picks up steam.
In the 416 market, a total of 89 detached houses sold, a 17 per cent increase from 2018, though down 13 per cent from last month. Annual activity was even stronger in the GTA with an increase of 42 per cent, reflecting a total of 43 sold; however, that’s -15 per cent below July levels. The semi-detached house segment followed a similar pattern with 23 transactions in the city proper, up 53 per cent year over year, and down -49 per cent month over month. In the 905, there were 81 homes changing hands, up 33 per cent year over year, and down -25 per cent month over month.
Sales for multi-family housing were also on the rise. Twenty-five townhouse units sold over the course of the week in the 416, up 67 per cent from 2018, and down -32 per cent from last month. In the 905, 76 units changed hands, marking an increase of 9 per cent and a decrease of -20 per cent, respectively. In the condo segment, the year-over-year increase was strongest in the city with 118 sold, up 9 per cent, and down 41 per cent month over month. In the 905, a total of 183 sold, up 8 per cent year over year, but down -37 per cent month over month.