Toronto Home Sales Rebound

The Toronto Regional Real Estate Board (TRREB) is reporting the strong rebound in Greater Toronto, ON, Area (GTA) home sales continued with a record result for the month of August. It reports 10,775 residential sales in August, up by 40.3 per cent compared to August 2019. Sales were up on a year-over-year basis for all major home types, both in the city and surrounding GTA regions. The low-rise market segments, including detached and semi-detached houses and townhouses, were the drivers of sales growth. Condominium apartment sales were up on an annual basis for the second straight month, but to a lesser degree. Both the number of new listings entered into MLS System during the month and the number of active listings at the end of the August were up on a year-over-year basis. While new listings were up strongly for all home types, growth in new condominium apartment listings far outstripped growth in the other market segments.