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ARTICLE · 08 JUNE 2017

Housing Update: GTA Home Sales Down

Devry Smith Frank LLP
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Last Friday an article that was released, reported a drop in the number of home sales in some areas of Toronto.

CanadaReal Estate and Construction
Devry Smith Frank LLP
Devry Smith Frank LLP
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Last Friday an article that was released, reported a drop in the number of home sales in some areas of Toronto.

A drop of 61 per cent has been the biggest recorded for the month-to-month analysis from April 20 to May 20. the 61 per cent drop was seen Richmond Hill, an area which sees a high level of investment buying. Not too far behind Richmond Hill were the following:

  • Markham at a 46 per cent drop
  • Newmarket at a 44 per cent drop
  • Toronto region at a 26 per cent drop

Other calculations by Condos.ca, have revealed that prices per square foot are down nearly 1 per cent in the last 60 days on its rolling 60-day average. Realosophy determined that sales were down by 23 per cent in Toronto.

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