Detached homes over $1 million are still selling quickly across the GTA

After countless months of record high pricing in the new low-rise market across the Total Market Area (TMA), it seems like buyers are just accepting that a detached home is going to cost them over $1 million because sales haven’t really slowed down.

Well, sales have slowed down slightly, but sales slow down every summer and supply has hit record lows. The point is, there’s still a very strong demand for detached housing, so strong in fact that buyers seem to have no trouble taking on a $1 million+ mortgage to own.

Listed below are a few notable low-rise sites that have sold many detached homes over the last month:

U.C. by Tribute Communities

U.C. by Tribute Communities saw 58 sales last month, and this is actually the only community on the Trimart Hot Spots list this week that has detached homes under $1 million available. This Oshawa community has been very successful; it features semis and 30’, 36’, and 40’ detached homes, ranging from 1,409 to 3,099 square feet. Prices are starting at $524,990 for the semis and range up to the mid $700,000s for a detached home.

Cleave View by Regal Crest Homes

Placing second with 32 sales last month is Cleave View Estates by Regal Crest Homes. This Brampton community features 38’, 47’, 52’, and 60’ detached homes, ranging from 2,608 to 5,464 square feet. Prices start at $987,990 and range up to more than $1.6 million. Brampton has held the title of the city with the most new low-rise sales for a few years now, and there’s no sign of slowing down.

Summerlyn Village by Great Gulf

Coming in third with 24 sales last month is Summerlyn Village by Great Gulf Homes. This Bradford community features 36’ and 40’ detached homes, ranging from 1,475 to 3,270 square feet. Following a very successful month, you’re going to have to wait until the next release to get your hands on one of these beautiful luxury homes.

For a change of pace, Chelsea by Aspen Ridge Homes takes the fourth position with 17 sales last month. Chelsea is actually a townhome community in Maple, with homes ranging from 1,585 to 1,653 square feet. These high-end townhomes start at $874,990 and range up to the low $900,000s.

Seven Oaks by Fernbrook Homes

The final position on this week’s Trimart Hot Spots list is taken by Seven Oaks, a Fernbrook Homes community in Oakville that saw seven sales last month. The townhomes at Seven Oaks range from 2,129 to 2,458 square feet and start from $769,990. The 38’ and 43’ detached homes range from 2,469 to 3,791 square feet and range up to more than $1.2 million.

All information courtesy Trimart Research Corporation.