Toronto homes: gone in just 20 days

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.”