Homebuyers flock to new low-rise openings across the GTA
By Lucas on Nov 20, 2015
According to the most recent report by Trimart Research Corporation, the public has remained very enthusiastic about new low-rise openings across the Total Market Area (TMA). If you’ve been paying any attention to the new low-rise market, you’ve definitely heard about the record low inventory levels. The low supply is certainly adding a sense of urgency to the new homebuying process, which in the long run is not healthy for the industry or the buyers.
Listed below are a few notable low-rise sites of the last month:
Kennedy Manors by Kylemore Communites
Placing first on this week’s Trimart Hot Spots list is Kennedy Manors, a new Markham project by Kylemore Communities. In just a week and a half, Kylemore sold 90% of the town manors, seeing 124 sales. Kennedy Manors features 15’ and 19’ rear lane townhomes and 23’ townhomes, ranging from 1,710 to 2,578 square feet, with prices starting at $838,000.
Briar Hill by Madison Homes
Coming in second is Briar Hill by Madison Homes, another community that had a successful opening weekend recently, seeing 70 sales. This Toronto community features urban townhomes ranging from 709 to 1,404 square feet, with prices starting at $380,990.
Madison Homes is currently offering opening incentives, which includes granite or quartz countertops, stainless steel appliances, oak stairs, a barbecue gas line on the terrace, and a $3,000 cap on levies and development charges.
The Arbors Condos by Brookfield Homes
The third spot is taken by The Arbors Condominiums, a Brookfield development that had 48 sales during the opening weekends. Located in Aurora, The Arbors Condos offers urban townhomes ranging from 562 to 1,125 square feet, with prices starting at $294,990. Brookfield’s opening incentives include one year of free condo fees, as well as a free locker.
Cachet Orangeville by Cachet Homes
Placing fourth with 34 sales during its preview opening is Cachet Orangeville, a new community by Cachet Homes. This new Orangeville community features 40’ and 45’ detached homes ranging from 1,746 to 2,937 square feet, with prices starting as low as $459,990.
Cachet Homes is offering many preview incentives, such as oak staircases, engineered natural oak hardwood on the main floor, granite countertops, stainless steel appliances, or central air conditioning.
Spice Urban Towns by Hi-Rise Inc.
The final position on this week’s Trimart Hot Spots list is taken by Spice Urban Towns by Hi-Rise Inc., which saw 31 sales during its opening month. This new Toronto development features a collection of urban townhomes, ranging from 739 to 1,029 square feet. Prices start from just $349,900.
Like the builders above, Hi-Rise Inc. is offering some attractive incentives, including six months free maintenance (for VIP registrants), one parking spot, one locker, no development charges, $500 assignment fee, barbecue gas line on all rooftop terraces, six appliances, and the ability to lease during occupancy.
All information courtesy Trimart Research Corporation.
