Toronto homes: gone in just 20 days

Homes are selling fast in Toronto according to BMO economist Robert Kavcic.

Homes are selling fast in Toronto according to BMO economist Robert Kavcic. He says in a research note that last year’s average of 21 days which was “already low” has dropped again to 20 days. He contrasts this with the time taken to sell a home in Calgary where the average has increased sharply, from 28 days a year ago to 40 now. On prices he notes that condos are increasing at a slower pace but that detached houses are in high demand in Toronto; however “liquidity in Calgary has effectively dried up.”