Your Weekly Toronto Real Estate Snapshot: January 8 – 14, 2020

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Photo by Syed Ahmed on Unsplash

The early January housing market is still trending well below the start of December, as the seasonal winter lull lingers before sales and new listings pick back up again towards the end of February and early March. From a year-over-year perspective, however, the market is showing strong gains as 2020 real estate kicks off on much more solid footing than it did in 2019; it took more than six months for activity to pick back up last year, before resulting in the strong rebounds recorded at year-end.  These trends played out in both the City of Toronto as well as the 905 regions, which include the Mississauga, Ajax, and Oakville real estate markets.

A total of 31 detached houses traded hands in the 416, trending at roughly half of last month’s activity; sales were down -56% m-o-m while being up 24% y-o-y. In the 905, a total of 187 sold, down -36% m-o-m and up 46% y-o-y. There were 10 transactions within the 416 for semi-detached houses, a -62% m-o-m drop, though up 67% y-o-y. In the 905, 39 sold, down -43% m-o-m and up 77% y-o-y.

Both types of multi-family housing are also experiencing recovery over the long-term. A total of 11 townhouses sold in the 416, down -62% m-o-m, and up 120% y-o-y. In the 905, 36 units sold, down -44% m-o-m and up 71% y-o-y. In the condo segment, 85 unit sales occurred within the city, down -36% m-o-m and up 37% y-o-y, while 133 sold in the 905, down -35% m-o-m, and up 41% y-o-y.

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