By Altus Group | April 28, 2021

GTA new home sales update – March 2021

The GTA new home market saw a very strong month in March, with total new home sales reaching 5,003 units, up 27% from March 2020 and 37% above the 10-year average.

“The new condominium apartment market picked up the pace in March as the spring market got underway,” said Ryan Wyse, Altus Group’s Manager, Analytics, Data Solutions. “The number of units in new projects launched and the number of sales were both well above the March average of the past 10 years and those newly launched projects saw particularly strong sales at opening.”

Condominium apartments, including units in low, medium and high-rise buildings, stacked townhouses and loft units, accounted for 3,297 new home sales in March, up 11% from March 2020 and 42% above the 10-year averageIt was the second highest March for condominium apartment sales since 2000.

Sales of new single-family homes, including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses), with 1,706 units sold, were up 75% from last March and 27% above the 10-year average.

Read more findings from our market data in BILD’s monthly new home market data release.

 

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