In the GTA new homes market, 2016 was a record setting year for low inventory, high prices and high-rise condo sales.
October saw a modest increase in supply and mix of new homes in the GTA, as well as a slight decrease in average prices.
Prices for all types of new homes in the GTA continue to set records while sales of new high-rise homes are on pace for an unprecedented year.
It’s no secret that the GTA needs more affordable housing and that creating it is a challenge.
Sales of new high-rise homes in the GTA are on pace for a record year.
Sales of new high-rise homes surged in May while low-rise inventory fell to a new record low.
April was another record-breaking month for the GTA’s new homes market. Low-rise inventory levels dropped to an all-time low while prices hit new highs.
The average price of new detached homes in the Greater Toronto Area has surpassed $1 million for the first time.
Sales and prices of new homes in the GTA in February are back on track after a slow January.
2016 is off to a slow start in the new home building and development industry. Following one of the biggest years ever for new homes in the GTA, in January sales of new homes were down, prices were mostly flat and new inventory was limited.