From a monthly perspective, the Toronto-area housing market continued to slow this week, as November activity is typically cooler than earlier autumn months from a seasonal perspective, and is expected to chill further once the first snow arrives. However, it’s clear from a long-term perspective that the market is rebounding, with year-over-year improvements across all home types in both the 416 and 905 regions.
A total of 101 detached houses sold in the City of Toronto, down -31 per cent from October, but showing the strongest year-over-year improvement of all home types in the 416 at an increase of 19 per cent. Demand was similarly voracious in the 905 with a total of 422 sales, down -15 per cent month-over-month, but up 33 per cent year-over-year. While far fewer semi-detached houses sold in the 416, with 33 transactions, sales growth showed similar improvement; numbers were down -39 per cent month-over-month, and up 9 per cent year-over-year. In the 905, a total of 85 sold, down -29 per cent month-over-month, and up 21 per cent year-over-year.
It was a weaker stretch for Toronto townhouses for sale, with 19 transactions, down -49 per cent month-over-month and up just 6 per cent year-over-year. However, these units experienced the strongest annual growth of any home type in the 905 with 75 sales, up 42 per cent, though down -14 per cent month-over-month. Performance in the condo sector, meanwhile, continues to be steady with 146 transactions in the 416, down -24 per cent month-over-month, and up 14 per cent year-over-year. In the 905, 220 units sold, down -21 per cent month-over-month, and up 13 per cent year-over-year.