The end-of-February GTA housing market has seen strong improvement from the previous week with early indicators that the busy spring season is already upon us. Sales were up by double-digit percentages in the City of Toronto as well as across the 905 region, which encompasses a number of municipalities including the Brampton, Oakville, and Mississauga real estate markets.
It was an especially fruitful week for detached house sales with a total of 120 trading hands in the 416, up 45% from the same time frame in January, and a whopping 90% from 2019. An even greater increase was recorded in the 905 with 497 sales, up 40% month over month and 113% year over year. Semi-detached houses had a quieter week, largely due to overall smaller inventory, with 31 transactions in the 416, up 29% m-o-m and 19% y-o-y. In the 905, 114 sold, up 65% m-o-m and 87% y-o-y.
There was also robust activity in the multi-family segments – a total of 30 townhouses sold in Toronto, up 43% m-o-m and 233% y-o-y, while 80 units sold in the 905, up 33% m-o-m and 74% y-o-y. A total of 192 condo apartment units sold in the 416, up 37% m-o-m and 41% y-o-y, with 285 units in the 905, up 38% m-o-m and 43% y-o-y.