A messy shot of late winter weather did little to slow the GTA housing market between the end of February and early March, as interested home buyers continued to pour into open houses and offer nights, pointing to a hot spring season to come.

Demand was strong for houses for sale in Toronto, with a total of 129 sold, up 43% from the same time in February, and 54% from last year’s activity. In the 905 markets, a total of 569 sold, up 35% month-over-month and 83% year-over year, signalling buyer purchasing power has recovered enough to really heat up the game for single-family homes. Growth was similarly robust in the smaller semi-detached segment, with a total of 39 sold in Toronto, up 70% m-o-m and 30% y-o-y, while there were 118 transactions in the 905, up 74% m-o-m and 76% y-o-y.

As well, demand continues to sizzle in the most affordable corners of the market – a total of 33 townhouses sold in the 416, up 65% m-o-m and 94% y-o-y, while 75 traded hands in the 905, up 19% m-o-m and 50% y-o-y. Meanwhile, a total of 190 condo units sold in the City of Toronto, up 20% m-o-m and 56% y-o-y, with 282 sold in the 905, up 9% m-o-m and 46% y-o-y.

Real Estate News