There will soon be an increase in new low-rise inventory
By Lucas on Aug 22, 2016
According to Trimart Research Corporation, the Total Market Area (TMA) has seen 14,496 new low-rise sales this year, as of the end of July 2016. That equals 59.2% of Trimart’s annual forecast. With only 1,107 sales in July, the industry did see a pretty big slump through the summer. That’s 27.1% lower than last year.
The lack of supply and rising prices are the causes of the decrease in sales. Trimart says that there will be more than 30 new releases and openings during fall 2016, so the surge in inventory should boost sales, but don’t expect prices to drop.
Listed below are a few notable low-rise sites of the last month:
The Estates of King Township by Mattamy Homes
Placing first on this week’s Trimart Hot Spots list is The Estates of King Township where there were 28 sales during the opening month. This Mattamy Homes community in King City features spacious 50’ and 65’ detached homes ranging from 3,655 to 6,125 square feet. Prices start from $1,559,990 and range up to approximately $1.9 million.
The Neighbourhoods of Mount Pleasant by Rosehaven Homes
Coming in second with 14 sales last month is The Neighbourhoods of Mount Pleasant in Brampton by Rosehaven Homes. With a successful month of sales, the 30’, 38’, and 41’ detached homes are sold out. There is a selection of townhomes and 45’ detached homes available, ranging from 1,327 to 3,715 square feet with prices starting at $588,990.
Upper West Side by Regal Crest Homes
We have a tie for third this week since Upper West Side by Regal Crest Homes also had 14 sales last month. This Thornhill community featured 41’ and 50’ detached homes ranging from 3,023 to 4,480 square feet, but they are now sold out! Thornhill is a popular area for new low-rise homes, so expect to see a few launches this fall.
Cleave View by Aspen Ridge Homes
Following closely behind with 13 sales last month is another Brampton community, Cleave View Estates by Aspen Ridge Homes. This very successful community features 38’, 47’, and 52’ detached homes ranging from 2,314 to 4,420 square feet. Prices are starting at $931,990 and range to more than $1.2 million.
Grand River Woods by Fernbrook Homes
The final position on this week’s Trimart Hot Spots report is taken by Grand River Woods, a new home community in Cambridge by Fernbrook Homes. The community features 30’, 35’, and 40’ detached homes ranging from 1,420 to 3,360 square feet. In order to see prices for Grand River Woods, you need to visit the sales centre!
All information courtesy Trimart Research Corporation.
