Detached home sales remain strong despite soaring prices

For the last couple years, new townhomes have been the affordable option for homebuyers who desire the low-rise lifestyle. The strong demand for detached homes and the dwindling inventory have launched prices to unattainable levels for many buyers. First-time homebuyers have almost no chance of purchasing a detached home unless they search outside or on the outskirts of the Greater Toronto Area (GTA).

That said, there are still many buyers who are downsizing or moving up that can afford a new detached home. Downsizers are selling a larger home and moving into something smaller, so there’s no problem there. And families or couples moving up are already in the market, so they’re likely selling their home for a decent amount and putting that money towards their next purchase.

Listed below are a few notable low-rise sites that saw many townhome and detached home sales in the last month:

The Brownstones at Westown by Lindvest

Coming in first on this week’s Trimart Hot Spots list with 58 sales during a new release is The Brownstones of Westown by Lindvest. This new community in Toronto features urban townhomes ranging from 568 to 1,220 square feet. Prices are starting at just $269,900. We wouldn’t be surprised if Lindvest saw a few first-time buyers at The Brownstones.

Country Lane by Andrin Homes

Following closely in second with 56 sales is Country Lane by Andrin Homes. This master-planned Whitby community features 26’, 36’, and 45’ detached homes ranging from 1,827 to 3,334 square feet. There’s a new release coming soon!

Country Lane by Heathwood Homes

The third spot is taken by Heathwood Homes’ collection of detached homes at Country Lane in Whitby. They had 43 sales last month, so you need to wait for a new release of the 36’ and 45’ homes. There are a few 26’ homes available, ranging from 2,023 to 3,364 square feet, with prices starting at $709,900.

Pine River by Zancor Homes

Coming in fourth with 14 sales last month is Pine River, a new home community in Angus by Zancor Homes. Pine River features a wide selection of homes, including townhomes, and 30’, 40’, and 50’ detached homes. The homes range from 1,235 to 3,425 square feet and prices start from $346,990.

Cornell by Mattamy Homes

The final position on this week’s Trimart Hot Spots list is taken by The Condominiums of Cornell, a new condo project in Markham by Mattamy Homes. The units range from 526 to 1,201 square feet, and you need to visit the presentation centre at 3150 Bur Oak Avenue in Markham for more information about pricing.

All information courtesy Trimart Research Corporation.