Toronto Real Estate Snapshot, Powered By Zoocasa (Nov. 6–12)

decline

The Greater Toronto Area housing market has encountered its first seasonal deep freeze, with sales activity across all home types dropping by double-digit percentages from October. However, this year’s sales continue to outperform last’s with strong demand for City of Toronto and 905 region MLS listings, signalling long-term market recovery continues.

A total of 84 detached houses sold in the City of Toronto, down -48 per cent from the same week in October, but up 6 per cent year over year. Sales were stronger in the 905 region with 405 transactions, down -24 per cent month-over-month, but up 44 per cent year-over-year. In the semi-detached segment, performance was similar though there were far fewer sales overall; a total of 33 transactions in the 416 pulled them down -43 per cent from last month, though they’re up 50 per cent from 2018. In the 905, a total of 78 sold, down -26 per cent month-over-month, and up 30 per cent year-over-year.

Demand stayed strong for multi-family housing, though lower overall townhouse inventory levels made for more volatile sales swings. There were 18 transactions in the 416, down -33 per cent month-over-month, and up 13 per cent year-over-year. A total of 77 sold in the 905, down -11 per cent, but saw the largest year-over-year growth at 88 per cent. Condos, which still saw annual gains, experienced the smallest growth of all home types – with 122 sales in the 416, performance fell -38 per cent month-over-month, and rose just 2 per cent year-over-year, while a total of 192 sold in the 905, down -36 per cent month-over-month, and up 7 per cent year-over-year.

More from Penelope Graham

Toronto Real Estate Snapshot, Powered By Zoocasa (Jul. 31 – Aug. 6)

It was a slower week overall for the Greater Toronto real estate...
Read More