Home sales are looking up over the short term, with improved activity for all home types during the same time period in February. It is, however, proving to be a slower end-of-winter market than experienced in 2018, with year-over-year declines across the board.

Month-over-month growth in demand was strongest for single-family home types. Detached house sales rose 23 per cent with 70 homes sold. Despite the month-over-month growth, sales were down -20 per cent from last year. It was a similar trend for semi-detached homes which saw a strong short-term improvement of 79 per cent with 25 sold, -36 per cent below where they were in 2018.

Townhouses experienced a whopping 133 per cent increase in sales, but only saw an additional 14 change hands, up from six in February, a reflection of how trends can be more volatile for home types with lower levels of inventory. Year-over-year performance of townhomes remained 7 per cent below the same time in 2018 as it did for condos for sale in Toronto; with much of the demand focused on homes in higher price points, the number of units rose only 2 per cent with 122 sold.

Real Estate News