Will the new home market heat up with the summer weather?
By Lucas on May 30, 2016
According to Trimart Research Corporation, there were 2,599 new low-rise sales across the Total Market Area (TMA) in April, which is the most sales the month has seen in the last decade!
The majority of the sales were in the east and west regions of the TMA. Though there were many new releases and grand openings, there still wasn’t enough supply to satisfy the strong demand. Sales and new openings tend to slow down during the summer, so it will be interesting to see what happens with the market.
Listed below are a few notable low-rise sites of the last month:
Arbor Peaks by Great Gulf
Taking the top position on this week’s Trimart Hot Spots list is Arbor Peaks, a new and very successful community in Milton by Great Gulf. Arbor Peaks featured 21’ townhomes, semis, and 36’ detached homes, ranging from 1,625 to 2,620 square feet. The community is temporarily sold out, but there will be a new release coming soon!
Mount Pleasant by Rosehaven Homes
Coming in second is The Neighbourhoods of Mount Pleasant, a Brampton community by Rosehaven Homes that had 42 sales last month. The community features townhomes and 30’, 38’, 41’, and 45’ detached homes, ranging from 1,327 to 3,715 square feet. Prices start from $508,990. As the city with the most new low-rise sales, every time a new release or opening is announced in Brampton, families flock to the sales centres.
West River Valley by Royal Pine Homes
Speaking of Brampton, Royal Pine Homes had a pretty successful month at one of their luxury communities, West River Valley, which saw 26 sales recently. These larger 72’ detached homes range from 6,300 to 6,510 square feet and are priced from $1,600,900.
It’s becoming less and less rare to see detached homes in popular suburban areas selling for well over $1 million. Just last week, the Building Industry and Land Development Association (BILD) announced that the average price for a new detached home in the GTA was $1,059,263 in April.
Stauffer Woods by Freure Homes
The fourth spot is taken by Stauffer Woods, a new home community in Kitchener by Freure Homes that saw 17 sales last month. The community features 32’ detached homes ranging from 1,654 to 2,373 square feet, with prices starting at $390,600. In early April, Trimart actually predicted that Kitchener would be a hot spot for new low-rise sales this year, and so far, they’re correct!
Alton Village West by Sundial Homes
The final position on this week’s Trimart Hot Spots is taken by Alton Village West, a new home community in Burlington by Sundial Homes that saw 14 sales during its preview weekend. Alton Village West features 31’ and 36’ detached homes ranging from 1,743 to 3,295 square feet, and prices are starting from as low as $849,990.
All information courtesy Trimart Research Corporation (except the BILD statistic).
