Housing market activity has eased considerably from June with summer weather in full swing, though all home types continue to post strong double-digit percentage gains compared to last year, both in the City of Toronto and surrounding Greater Toronto Area.

Sales for detached Toronto houses hit 102 transactions within the 416 and 450 in the 905, marking year-over-year improvements of 23 and 33 per cent, respectively. However, that’s lagging -37 and -29 per cent below July activity. Semi-detached houses had a similar showing with 36 sales in the city proper and 102 in the 905, up 29 per cent in both regions, with monthly declines of -47 and -35 per cent.

Demand for multi-family housing continues its tear with 29 townhouses sold in the 416 and 83 in the 905; that’s a year-over-year increase of 16 and 36 per cent, and the segment saw the smallest monthly drops of -12 and -18 per cent. Meanwhile, a total of 163 condo units sold in the 416 and 236 in the 905, an increase of 31 and 20 per cent, and marking a -26 per cent decline in both markets.

Real Estate News