New-homes Market Continues to Show Strength Around the Greater Toronto Area [Infographics]

 low-rise sector grew six per cent to $685,413 while prices of high-rise homes increased two per cent to $441,144.

Sales of new homes and condominiums across the Greater Toronto Area continue to improve after a slow 2013, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, total new-home sales in July increased 41 per cent over July 2013. Year-to-date sales have also grown, up 52 per cent and sitting above the 10-year average.

The high-rise market also saw a substantial increase in sales activities to 1,501 sales, a 34 per cent increase over July 2013. Year-to-date, it registered an impressive 12,655 sales, a 46 per cent increase from 2013 (however, it was only a 5 per cent increase over 2012 levels).

"While high-rise sales continue to drive the market, the low-rise sector has shown considerable strength," said BILD president and CEO Bryan Tuckey. "Sales of ground-related homes have recorded the highest July since 2009 while year-to-date sales are nearly on par with the 10-year average."

According to the RealNet New Home Price Index, pricing in the low-rise sector grew six per cent to $685,413 while prices of high-rise homes increased two per cent to $441,144.

The gap between the two different segments continues to widen. As of last month, the price difference now sits at $244,269.


July '14Low RiseHigh RiseTotal
Region2012   20132014201220132014201220132014
Durham12320924318630141215273
Halton111551773782320148137497
Peel3502263912656836615294427
Toronto422679848877843890903922
York20529933618788272392387608
GTA8318151,2261,3551,1211,5012,1861,9362,727
Jan-July9,9116,84910,89412,1008,69312,65522,01115,54223,549
            
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