The holiday season was a very quiet one for the Toronto market, with typically hefty declines for month-over-month activity, but also slower than seen in the same week of 2018, when many buyers rushed to get deals closed before new mortgage rules took hold in January.
There were only a handful of sales for each housing type, in the lower double digits. Just 276 of the detached houses for sale in Toronto moved, marking a 69 per cent drop from November and down 37 per cent from 2017, while 11 semi-detached homes traded hands, down 70 per cent month over month and 48 per cent year-over-year.
Townhouse sales also plunged 50 per cent from November with 13 units sold, 41 per cent below 2017’s levels. Condos saw the strongest activity during the holiday week with 72 sales, but still posting declines of 57 per cent and 26 per cent.