August Mid-Month: Strong GTA Detached and Townhouse Sales

The first two weeks of August show positive gains from 2017 for detached house and condo townhouse sales.

Sales for Toronto townhouses and detached houses in the 416 are going particularly well, up 31 and 12 per cent from August 2017. Across the Greater Toronto Area, they are also doing well, with 9 and 17 per cent increases in listings sold.

Meanwhile, sales of Toronto condos are flat, but up 6 per cent across the GTA.

Fewer semi-detached houses sold this August, down over 20 per cent across both the 416 and the 905.

Unsurprisingly, sales have declined for all properties compared to the first two weeks of July, as summer is a typically slow period for real estate. Sales are likely to pick up in the fall season when as Torontonians head home from the cottage and return to their work and school routines.

Supply has increased compared to the same period last year. New listings for detached house saw a 10 per cent increase in and 15 per cent in the City of Toronto. New listings for semi-detached homes are up 4 per cent in the GTA and 13 per cent in the City of Toronto. New condo apartment listings edged up slightly by 1 per cent compared to last year in both the City of Toronto and the GTA.

Check out how August mid-month trends differ from the same time period in July and 2017, in the infographic below: