New home and condo sales mix it up
By on Oct 28, 2010
The high-rise housing marketing continues to outpace the low-rise market throughout the GTA, particularly in the 905. This ongoing trend was highlighted by the September 2010 new home sales statistics released by the Building Industry & Land Development Association (BILD).
According to RealNet Canada Inc., BILDs official source of new home market intelligence, there were 2,722 new homes sold in the GTA in September, which is a very respectable performance, albeit 32 per cent below the break-neck pace recorded in September 2009.
September's high-rise sales were the third-best on record for that month despite a 16 per cent decline from last year. As noted by RealNet, the month ended on a decidedly positive note with many late-month sales expected to be reflected in the October results after the normal 10-day cooling-off window. On a year-to-date basis, high-rise sales are running 59 per cent ahead of 2009 with a strong final quarter expected to come.
"What's particularly noteworthy about the high-rise market is the strength in the 905 regions, particularly Halton and Peel," said BILD President and CEO Stephen Dupuis. "The normal 80/20, 416/905 split was 71/29 in September, and given that the low-rise housing market in the 905 continues to be challenged by a severe lack of available product for sale, the trend towards more high-rise sales in the 905 is expected to continue to grow."
