A week of unpleasant winter-like weather kept prospective home buyers on the sidelines this week – no one wants to contend with snow and slush while on the house hunt! As a result, year-over-year sales performance was mixed in the City of Toronto, though activity remained strongly improved throughout the 905-region markets. Meanwhile, month-over-month sales largely dipped, as is seasonally typical this time of year.
A total of 73 detached houses for sale traded hands in the 416, down -5 per cent year-over-year, and dropping -50 per cent month-over-month. In the 905, however, 309 houses sold, marking a 25 per cent year-over-year increase, and down -42 per cent month-over-month. Demand remained mixed for semi-detached houses with 30 Toronto sales, up 36 per cent year-over-year, though down by the same percentage from October. In the 905, 85 sold, up 39 per cent year-over-year and down -25 per cent month-over-month.
Fewer townhouses sold in the city with 15 transactions, down -17 per cent year-over-year and -42 per cent month-over-month. In the 905-area markets, 48 units sold, up 7 per cent year-over-year and down -44 per cent month-over-month. Condo units, however, experienced an uptick, evident of continued demand for less-expensive home types. A total of 142 sold in Toronto, up 23 per cent year-over-year and down –32 per cent month-over-month, while 203 sold in the 905, up 20 per cent year-over-year and down -33 per cent month-over-month.