The late winter market is roaring back to life, with home buyer activity strongly rebounding from the seasonal holiday slowdown. However, this week’s activity was even keel with the same time period in 2018, with more modest gains across the most popular home types, and even declines noted in the more volatile segments.
A total of 62 detached houses sold in the City of Toronto, doubling the 31 that sold in the same week in December, and up 9% from 2018. In the 905, 314 sold, up 208% m-o-m and 32% y-o-y. There were dramatic swings in the number of semi-detached houses changing hands in the 416 with 15 transactions – a 1400% difference from the single unit sold last month, though down -12% y-o-y. In the 905, 46 semis sold, up 188% m-o-m and down -4% y-o-y.
While the number of multi-family home sales are consistently increasing week by week, the longer-term picture is softer; a total of 11 townhouses sold in the 416, up 22% m-o-m and down -27% y-o-y. In the 905, a total of 44 sold, up 144% m-o-m and 13% y-o-y. Condos for sale in the 416 also saw a stronger monthly performance with 105 units sold, up 163%, though down -41% y-o-y – a trend that played out in the 905 markets as well with 162 units sold, up 119% m-o-m and 1% y-o-y.