Now that the first blanket of snow has covered the Greater Toronto Area, the real estate market is poised for its seasonal holiday slowdown, though year-over-year numbers still reflect promising long-term recovery from last year’s slump.
The same number of detached houses traded hands in the City of Toronto as last month, with a total of 108 transactions, also marking a 40 per cent increase from 2018. Month-over-month performance was weaker in the 905 region markets, however, with 362 sales, down -6 per cent from October, but up 32 per cent year-over-year. Semi-detached houses had an overall slower week in the 416 with 122 sales, down -24 per cent month-over-month and -35 per cent year-over-year, though demand was strong in the 905 with 95 sales, up 22 per cent and 15 per cent on both a monthly and annual basis.
It was a strong week overall for multi-family housing – a total of 23 townhouses sold in the 416, up 10 per cent month-over-month and 64 per cent year-over-year, while 71 sold in the 905, down -15 per cent month-over-month, but up 11 per cent year-over-year. Demand for Toronto condos for sale fell -6 per cent month-over-month with 136 transactions, though they rose 11 per cent year-over-year, and in the 905, a total of 210 units sold, don -2 per cent month-over-month and up 14 per cent year-over-year.