Trimart Lists Top 5 Cities and Sites of 2014
By Lucas on Mar 09, 2015
It’s never too late to gain more insight on the Total Market Area’s (TMA) housing market. Trimart Research Corporation just released their 2014 overview report, highlighting the top five selling cities and top five sites for new low-rise homes.
According to Trimart, the TMA saw 20,909 low-rise sales in 2014, which is 15.8% higher than 2013’s figure, making last year the highest selling in the last six years. It’s interesting that despite the low inventory, rising prices, and negative media coverage that the demand for new low-rise homes didn’t wane. The Greater Toronto Area’s (GTA) resale market saw 92,867 transactions in 2014, a significant jump from 2013’s total of 87,111.
The average price for a new low-rise home in 2014 came in at $566,726, which is a year-over-year increase of 8.4%. Most market experts are predicting the average price to rise roughly the same amount over the course of 2015. Just last month, the average price for a resale detached home in the GTA hit $1 million, according to the Toronto Real Estate Board.
St. John's Forest - via Mattamy Homes
Top 5 Cities
Brampton came in first with 4,948 new low-rise sales in 2014. That’s roughly 24% of the total new low-rise sales throughout all of the TMA. To say that the demand to live in Brampton is super strong would be an understatement. You’ll understand what we mean when you see how many sales the second place city has.
Trailing behind in a distant second is Toronto, with just 1,174 sales. Even though Toronto is behind Brampton by a few thousand sales, it’s still impressive that Toronto is up in second place because the average price for a new low-rise home in the city is typically way higher than in a suburb. It just goes to show that people are still willing to pay a premium to own in or close to the downtown core.
Coming in closely behind Toronto with 1,152 sales is Oakville. To be honest, we didn’t expect Oakville to make it into the top five, but thanks to a Mattamy Homes community, the numbers surged near the end of the year. 2015 should be even better for Oakville with a number of new releases and openings scheduled.
Coming in fourth with 1,098 sales is Oakville’s neighbour, Milton. Milton has been one of the highest selling cities for the last few years due to a lot of new development, especially by - you guessed it - Mattamy Homes.
Slipping into fifth is Oshawa with 1,006 sales last year. Oshawa is another one of those cities that we didn’t expect to be in the top five, but ever since Minto started building there, it’s been a hot market!
The Preserve - via Mattamy Homes
Top 5 Sites
- Hawthorne South Village - Mattamy Homes - Milton - 978 sales
- Mount Pleasant North/Village - Mattamy Homes - Brampton - 702 sales
- The Preserve - Mattamy Homes - Oakville - 362 sales
- Kingmeadow - Minto - Oshawa - 330 sales (feature image)
- St John’s Forest - Mattamy Homes - Aurora - 279 sales
All information courtesy Trimart Research Corporation.
