Urban townhomes still in strong demand among move-up buyers

The latest report from Trimart Research Corporation states that new low-rise sales in the Total Market Area (TMA) surged this fall season. As of the end of September, 71% of the annual Trimart forecast had been achieved. So far, the north and west regions have outperformed the other areas. In the north region of the TMA, sales are up 203.8%, while sales are up 101.4% in the west, and urban townhomes are still in high demand.

There was also a slight boost in inventory. Due to the much-needed supply increase and high demand for new low-rise housing throughout the TMA, the fall has been very successful for the market. Trimart credits eight new openings and 19 new releases for the increase in supply and sales. October numbers are still coming in, but it’s looking like October was just as busy, if not more so.

Listed below are a few notable low-rise sites of the last month:

Boxgrove Village by Arista Homes

Placing first on this week’s Trimart Hot Spots list is Boxgrove Village, a new home community in Markham by Arista Homes. During the opening weekends, there were 99 sales at Boxgrove Village. The community features two-storey townhomes ranging from 1,682 to 2,365 square feet with prices starting at $850,990.

Southfields by Mattamy Homes

Coming in second with 72 sales during opening weekends is Southfields, a new home community in Caledon by Mattamy Homes. Southfields features two-storey townhomes and 43’ detached homes ranging from 1,697 to 3,528 square feet. You’ll have to wait until the next new release for pricing!

Mount Pleasant by Rosehaven Homes

The third spot is taken by Mount Pleasant, a successful Brampton community by Rosehaven Homes that saw 28 sales last month. This community also features two-storey townhomes ranging over 1,300 square feet, with prices starting at $588,990. Urban townhomes continue to be a popular move-up option due to the rising price of new detached homes.

Arbor Peaks by Great Gulf

Placing fourth with 19 sales last month is Arbor Peaks, a new home community in Milton by Great Gulf Homes. The community features 21’ townhomes, semis, and 36’ detached homes ranging from 1,615 to 2,620 square feet. There are some semis available, but you’ll have to wait for a new release for the townhomes and detached homes.

The Brownstones at Westown by Lindvest

The final position on this week’s Trimart Hot Spots list is taken by The Brownstones at Westown, a new home community in Toronto by Lindvest. There were nine sales at The Brownstones last week. The community features urban townhomes ranging from 568 to 1,220 square feet with prices starting at $310,990.

All information courtesy Trimart Research Corporation.