The long Labour Day long weekend is always cause for a slower real estate week, as home buying and selling activity tends to take a hiatus until back-to-school season is in full swing. Monthly sales are down across all home types in both the 416 and 905 regions, with mixed results on an annual basis.
Detached houses for sale saw activity soften in the City of Toronto with a total of 47 transactions, down a step -61 per cent month-over-month and -22 per cent year-over-year. In the 905 region, a total of 278 changed hands, down -45 per cent month-over-month and -7 per cent year-over-year. It was a softer decline for semi-detached house sales; there were 17 transactions in the 416, down -59 per cent, but up 6 per cent year-over-year. A total of 50 sold in the 905, down -57 per cent month-over-month and -4 per cent year-over-year.
Sales were also mixed for multi-family housing types. There were just 12 townhouse sales within the 416 over the course of the week, down -54 per cent, though ticking up 9 per cent on an annual basis. Gains were stronger in the 905, though, with 49 sales, down -47 per cent month-over-month, but up 23 per cent year-over-year. The condo segment, meanwhile, continues to lag with 84 sales in the 416, marking declines of -59 per cent and -24 per cent. In the 905, a total of 147 changed hands, dipping -51 per cent and -17 per cent, respectively.
