By Altus Group | August 27, 2020

GTA new home sales update – July 2020

The GTA new home market saw the strongest July for new home sales since 2007.  A total of 3,544 new homes was sold in July, up 36% from July 2019 and 40% above the 10-year average. Sales of new single-family homes, including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses), with 1,553 units sold, were up 187% from last July and 78% above the 10-year average. It was the highest July since 2009 for new single-family home sales.

New condominium apartments sales, including units in low, medium and high-rise buildings, stacked townhouses and loft units, also picked up in July after three months of slower activity. With 1,991 units sold, condominium apartment sales were 4% below July 2019, but 19% above the 10-year average.  

“Following the opening of several projects delayed by the pandemic, condominium apartment sales improved substantially in July, with newly opened projects experiencing very strong absorption,” said Matthew Boukall, Altus Group’s Vice President, Data Solutions. “This increased activity suggests that there is pent-up demand for new inventory of both single-family and condominium apartment product, and we expect developers to bring more projects forward through the fall period.”

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

 

View more insights >

Related posts

close
close
forumRequest a demo
close
close

Thank you for contacting us. we will get back to you shortly!

This site uses cookies to improve your user experience. By using our website, you are agreeing to our use of cookies.
Click here for more information.