It was another strong week of gains in the Greater Toronto Area real estate market as buyers pour back into the action, setting the stage for what is sure to be a very active spring season. Sales were up across every home type throughout the 416 and 905, with gains recorded on both a month-over-month and annual basis.
Demand for detached houses continues to lead the market with a total of 68 sold in the City of Toronto – up 172% from the same time period in January, and up 33% year over year, the largest long-term increase of any home type. The same trend played out in the 905-area markets with 328 transactions, up 209% m-o-m and 38% y-o-y. Semi-detached houses, while up significantly from January with 11 sales in the 416 (a 267% increase m-o-m), was the only segment in the 416 to dip on an annual basis, falling -8%. In the 905, however, a total of 55 sold, up 267% m-o-m and 25% y-o-y.
It was a solid week for townhouses for sale with 20 transactions in the 416, up 150% m-o-m and 11% y-o-y, and with 44 sales in the 905, up 83% m-o-m and down -14% y-o-y. Meanwhile, the condo segment continues to strengthen with 126 units sold in the 416, up 193% m-o-m and 29% y-o-y, and 208 sold in the 905, up 215% m-o-m and 26% y-o-y.