Demand for Toronto's townhouses loses pace in September

by Ephraim Vecina19 Sep 2018

Latest numbers from the Toronto Real Estate Board revealed that the city’s townhouse market has seen a notable slackening in sales numbers, going down by 25% on a year-over-year basis in the first half of September 2018.

This accompanied the introduction of 40% more listings in the market’s townhouse when compared to the same period last month.

Other housing types across the region have experienced robust activity, real estate information portal and brokerage Zoocasa stated in its analysis of the new TREB data.

Detached home sales went up by 11% annually in the City of Toronto and by 9% in the GTA. Inventory expanded by 81% month-over-month.

Read more: Toronto and Vancouver investors, take heed

On the semi-detached side, the segment saw 9% growth in sales in the City of Toronto, and 5% across the GTA. Supply increased by 63% from the first half of August.

Condo apartments had good sales figures as well, with a year-over-year growth rate of 7% in the City of Toronto and 8% across the GTA. Supply expanded by a significant 30%.

“While buyers may be taking their time, sellers have entered the September market in full force, with a flood of new listings across every home type. That’s pushed the market into an easy buyer-friendly environment, from the relatively balanced market in August,” Zoocasa wrote in its analysis.

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