The cold-weather market continues to slow down over the short term, as month-over-month declines steepen across all home types in the Greater Toronto Area. It was a much busier week than experienced at the same time in 2018, however, with strong increases recorded on a year-over-year basis in both the City of Toronto and 905-region markets.
Month-over-month activity was down sharply for houses for sale in Toronto with 97 sold, a -42 per cent drop. Year-over-year, however, transactions are up by more than half, with a 54 per cent increase. In the 905, a total of 380 sold, marking a similar month-over-month decrease of -31 per cent, while year-over-year numbers rose 50 per cent. Meanwhile, a total of 40 semi-detached houses traded hands in the 416, down -26 per cent month-over-month and up 29 per cent year-over-year, while 98 sold in the 905, down -18 per cent month-over-month, and up 24 per cent year-over-year.
It was also a particularly strong week for multi-family home types; in the townhouse segment, 23 sold in the 416, down -28 per cent month-over-month, but up 35 per cent year-over-year. There were 71 transactions in the 905, down -27 per cent month-over-month and up a whopping 82 per cent year-over-year. Condos also experienced a similar uptick with 151 transactions in the 416 – down -17 per cent month-over-month and up 34 per cent year-over-year, while 216 sold in the 905, down -22 per cent month-over-month, and up 38 per cent year-over-year.