Toronto Real Estate Snapshot, Powered By Zoocasa (June 5 – 11)
Home sales in Toronto have experienced a significant month-over-month drop. By property type, condo apartments had the largest number of sales with 159 units changing hands, just -2 per cent below last year. Detached houses for sale in Toronto follow behind with 104 sold, up by 2 per cent from last year. This was the only home type to experience a year-over-year increase in sales. As the summer approaches, more dramatic fluctuations in home sales may be observed as sales inventory continues to tighten.
Sales of semi-detached houses and condo townhouses slowed for the City of Toronto. Semi-detached units experienced 36 sales, down by a whopping -54 per cent from last month and -16 per cent from the same week last year. There were 24 condo townhouses sold, a drop of -31 per cent from last month and a drop of -4 per cent from last year. It looks as though the spring boom may be over as home sales return to a normal level.