Your Weekly Toronto Home Sales Snapshot, Powered By Zoocasa (July 4 To 10)
Things continue to look cautiously promising from a year-over-year perspective. All home types, except semi-detached, have posted improved sales from the same time period in 2017.
Detached-home demand bounced back with a three-per-cent increase, a turnaround from the -10-per-cent year-over-year decline experienced during the holiday long weekend.
However, sales are down a hefty 42 per cent from this week in June, indicating that the slower summer months are starting to settle in.
Condos in downtown Toronto also experienced a modest two-per-cent gain from 2017, though remain 25-per-cent below June levels. This could reflect murmurs of buyers’ fatigue in the high-rise segment, which has seen its relative affordability erode as prices continue to rise.
The most action seen this week was in the semi-detached and townhome segments. They were down 17 per cent and up 19 per cent year over year, respectively.
However, given the relatively low inventory and activity for these housing types, the difference of just a few units can produce seemingly dramatic trends.