Your Weekly Toronto Real Estate Snapshot: March 11 – 17, 2020

Photo by Ferdinand Stöhr on Unsplash

The Greater Toronto Area housing market continued to put on a strong showing this past week, despite the impact of new social distancing measures that may be reducing the number of in-person interested buyers. Month-over-month demand for Toronto real estate listings cooled somewhat from previous weeks this spring, though the majority of home types still experienced double-digit percentage sales increases. As well, annual improvement remains strong with year-over-year gains across all segments in both the 416 and 905 markets.

A total of 129 detached houses sold in the 416, up 36% m-o-m and 29% y-o-y, leading demand for all home types within the city. In the 905, 559 sold, up 33% m-o-m and 35% y-o-y. Demand also remained strong for semi-detached homes with 31 transactions in the 416, up 35% m-o-m and 24% y-o-y, while 120 sold in the 905, up 41% m-o-m and 60% y-o-y.

There was some short-term volatility, however, in the townhouse segment in the city, which is typical due to its overall lower levels of inventory. A total of 30 units sold in the 416, down -6% m-o-m, though still recording a 25% y-o-y increase. In the 905, 98 sold, up 42% m-o-m and 63% y-o-y. Condo apartments continue to post healthy gains with 189 transactions in the 416, up 14% m-o-m and 20% y-o-y, with 278 sales in the 905, up 15% m-o-m and 17% y-o-y.

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