Your Weekly Toronto Real Estate Snapshot: Jan 29 – Feb 4, 2020

extreme cold weather

It was another strong week of gains in the Greater Toronto Area real estate market as buyers pour back into the action, setting the stage for what is sure to be a very active spring season. Sales were up across every home type throughout the 416 and 905, with gains recorded on both a month-over-month and annual basis.

Demand for detached houses continues to lead the market with a total of 68 sold in the City of Toronto – up 172% from the same time period in January, and up 33% year over year, the largest long-term increase of any home type. The same trend played out in the 905-area markets with 328 transactions, up 209% m-o-m and 38% y-o-y. Semi-detached houses, while up significantly from January with 11 sales in the 416 (a 267% increase m-o-m), was the only segment in the 416 to dip on an annual basis, falling -8%. In the 905, however, a total of 55 sold, up 267% m-o-m and 25% y-o-y.

It was a solid week for townhouses for sale with 20 transactions in the 416, up 150% m-o-m and 11% y-o-y, and with 44 sales in the 905, up 83% m-o-m and down -14% y-o-y. Meanwhile, the condo segment continues to strengthen with 126 units sold in the 416, up 193% m-o-m and 29% y-o-y, and 208 sold in the 905, up 215% m-o-m and 26% y-o-y.

More from Penelope Graham

Your Weekly Toronto Real Estate Snapshot, Powered By Zoocasa (Sep. 5 – 11)

Things are looking positive year over year for all home types thus...
Read More