Will Strong Low-Rise Sales Leave Condos in the Dust?
By Lucas on Apr 13, 2015
For the first time in a while, sales of new low-rise homes are outpacing new condo sales, but what does this spring hold for the new home market?
According to Trimart Research Corporation, there were over 20 new low-rise openings and releases in March 2015, and this inventory of homes will carry on through spring, in addition to all the new releases that are expected to launch over the next couple months. Trimart highlights Oshawa and East Gwillimbury as areas that will be especially successful this season. We think condo units will keep up and perhaps even surpass low-rise sales since there are so many developments launching in the GTA this spring, and they offer an affordable alternative to the rising price of detached homes.
Listed below are a few notable low-rise sites of the last month:
Urbantowns - via Treasure Hill Homes
Placing number one on this week’s Trimart Hot Spots list is Urbantowns on Bayview, a luxury townhome community by Treasure Hill Homes. Located in Richmond Hill, the community is comprised of urban townhomes ranging from 1,904 to 2,460 square feet. Prices start from $729,900. In most cases, townhomes have been an affordable option for some families, but these are luxury luxury towns in a high-end neighbourhood.
Urban Towndominiums - via Rosehaven Homes
A perfect example of an affordable townhome community is Rosehaven Homes’ development, Urban Towndominiums. This Brampton community had 20 sales last month. Offering the best of both worlds (towns and condos), Urban Towndominiums features units ranging from 838 to 1,230 square feet, with prices starting at just $299,900.
Southfields - via Monarch
The third spot is taken by Monarch’s Caledon community, Village of Southfields, which saw 17 sales last month. The community features a wide range of home types, including townhomes, semis, and 43’ and 50’ detached homes, ranging from 1,630 to 3,971 square feet. Prices start at just $418,990 - a great value for your dollar considering the amazing Caledon neighbourhood.
Sharon Village - via Great Gulf Homes
Coming in fourth with 15 sales last month is Sharon Village by Great Gulf Homes. This East Gwillimbury community features a variety of detached home designs on 32’, 36’, and 40’ lots, with sizes ranging from 1,520 to 2,600 square feet. At the moment, the detached homes are sold out until the next phase launches, and it’s not a surprise considering how high in demand detached living in East Gwillimbury is. Plus, prices were starting at just $500,990. Watch out for the next phase!
Meadowgreen - via Heathwood Homes
The last position on this week’s Trimart Hot Spots is snagged by Meadowgreen, a Brampton community by Heathwood Homes. This popular Brampton community features 22’ townhomes ranging from 1,863 to 2,622 square feet, with prices starting at $541,900. Heathwood is currently offering a pretty great incentive with a purchase at Meadowgreen, giving homebuyers $1,500 worth of moving services so you don't have to worry about that extra cost when you're ready to move into your new home.
All information courtesy Trimart Research Corporation.
