Toronto’s chilly spring real estate market is still seeing demand for these home types

​Despite a sluggish spring real estate market in Toronto, certain home types continue to attract buyers. While overall sales have dipped, demand remains strong for detached and semi-detached houses, as well as townhouses, particularly in specific neighbourhoods.​
St. Albert Gazette

In April 2024, home sales in the Greater Toronto Area (GTA) decreased by 5% compared to the previous year. However, new listings surged by 47.2%, providing buyers with more options and keeping prices relatively stable . This influx of listings has created a more balanced market, offering opportunities for buyers seeking specific property types.​

Detached homes have seen a notable increase in sales, with a 10% rise compared to the same period last year. The average sale price for detached homes reached $1,423,056, highlighting their continued desirability . Buyers are particularly interested in detached properties located in vibrant downtown and midtown communities, drawn by their walkability, amenities, and overall lifestyle appeal .​

Semi-detached homes are also experiencing steady demand. In Toronto, the average sale price for semi-detached properties reached $1,090,749, reflecting a 6% increase from the previous month . These homes offer a balance between space and affordability, making them attractive to buyers looking for more room without the higher costs associated with fully detached houses.​

Townhouses have shown resilience in the market as well. The average sales price for townhouses settled at $982,656, with inventory levels reaching over 2,000 active listings—a 107% increase from the ten-year September average . This abundance of options provides buyers with a unique opportunity to find suitable homes in this category.​

While the overall market faces challenges, the sustained interest in detached, semi-detached, and townhouse properties indicates that buyers are still active, especially those seeking specific home types that meet their needs. As the market continues to adjust, these segments may offer valuable opportunities for both buyers and sellers navigating Toronto's real estate landscape.​