Houses are selling fast in these southern Ontario cities

While the red-hot housing market in the GTA (and southern Ontario overall) has cooled off ever-so-slightly from the highs reported during the height of the pandemic, a new report suggests houses in a number of cities are still flying off the market. 

According to a report by real estate website and brokerage Zoocasa, data from the Toronto Regional Real Estate Board suggests that homes in the Durham Region–and Ajax in particular–are selling within days of hitting the market. 

“Ajax excels in the Greater Toronto Area’s dynamic real estate market, with properties consistently in high demand across various home types,” the report, which begins by focusing on neighbourhood-by-neighbourhood sales in Toronto before analyzing trends in the suburbs, reads. 

“In this competitive environment, Ajax’s detached homes and condo apartments stand out, each taking just 10 days on average to sell, mirroring the sales pace of Whitby and Clarington.”

According to the data, homes (all types combined) are selling after 11 days on the market in Ajax, with semi-detached homes selling in seven days and detached homes selling in 10. Townhouses are taking a little longer–about 22 days. 

Other Durham municipalities are also seeing rapid sales, with homes (all types combined) selling after 11 days on the market in Whitby, 14 days in Clarington and 14 days in Pickering.

Homes are selling in about 15 days in Oshawa and 16 days in Markham. 

In Milton, homes are selling in about 17 days; in Oakville, in about 18 days; and in Burlington, in about 19 days. In Halton Hills, homes are selling in about 20 days. 

Houses also sell quickly in Brampton (18 days) and Mississauga (20 days). 

Houses are taking a bit more time in more rural communities, such as Caledon (30 days) and Brock (50 days). 

According to the report, Ajax leads the way in semi-detached sales across big cities, with these properties selling in a week–faster than in Burlington, Richmond Hill, and nearby Clarington. 

The report also notes that detached homes are in significant demand in the GTA, with almost all cities and regions analyzed selling in 32 days or less. About 24 percent of detached homes across the GTA and surrounding areas sell in just 14 days or less.

As far as Toronto goes, neighbourhoods with the fastest-moving houses include Stonegate and Queensway (10 days on the market), East York and Danforth Village (11 days), Leslieville, Riverside and Little India (12), the Beaches and Upper Beaches (13 days) and High Park North, the Junction and Runnymede (14 days).

More expensive neighbourhoods are seeing longer sales times, with residents in the Bridle Path waiting about 32 days to sell their homes. In Yorkville, the Annex and Summerhill, homes take about 29 days to change hands.