July continues to be slower than June as the spring real estate rush draws to a close. However, the market continues to rebound from last year’s sales levels with the number of homes changing hands up by double-digits across all home types, in both the City of Toronto and surrounding 905 regions including Durham, York, and Mississauga real estate markets.
Detached house sales rose 38 per cent year over year in the 416 with 106 transactions, and up 39 per cent in the 905 with 460; however, both regions linger below June activity by -22 per cent and -21 per cent. Semi-detached houses experienced similar annual growth with 33 transactions within the city proper, marking a 38 per cent increase, and boomed in the 905 with 101 sales, a 60 per cent increase. Month over month, sales are down by -51 per cent and -29 per cent.
Demand is picking up from last year in the multi-family segment; townhouse sales totaled 24 units in the 416, up 26 per cent, and 70 in the 905, up 32 per cent, though down -37 per cent and -26 per cent from June. This improved performance was also seen in the condo market as 154 units sold in the 416, making a strong 10 per cent increase, and 227 in the 905, up 11 per cent. Compared to the same period last month, both dropped by -19 per cent and -24 per cent, respectively.