There has been sentiment in the market this season that the typical spring demand for Toronto real estate listings is running roughly a month behind; poor weather conditions that persisted throughout May kept both buyers and sellers indoors, putting a damper on transactions. However, market activity has heated along with the sun, with strong improvements in sales across most housing types on both a monthly and annual basis.

Growth in demand for detached houses continues its modest but steady uptick with a total of 121 sales, marking a 2 per cent change from last month, and up 9 per cent year-over-year. The semi-detached segment, however, has surged with 44 homes changing hands, up 52 per cent from May and 33 per cent from last year. It has also been a strong week for townhouses; a total of 23 sold, up 15 per cent month-over-month, and 28 per cent year-over-year. And, while demand for condos has been heating in the short term with 167 units sold, up 20 per cent monthly, they linger below last year’s levels by -6 per cent.

Real Estate News