April 15, 2004

February 9, 2005

Toronto—There were 4,627 new homes and condominiums sold in the Greater Toronto Area in March, up a solid 30 per cent over March, 2003, Julie DiLorenzo, first vice president of the Greater Toronto Home Builders’ Association announced today.

“New home buyers had been held back through January and February, because of adverse weather, but sales offices sprang to life in March as buyers shook off the doldrums, checked out the 40-year low interest rates, and seized the opportunity to get into the market,” stated DiLorenzo, who is also president of Diamante Development Corporation.

What’s particularly noteworthy about the March and year-to-date sales statistics is that the high-rise sector is leading the market upward. While total March sales were up 30 per cent, high-rise sales were up 59 per cent. While total first quarter sales were up 11 per cent, high-rise sales were up 30 per cent.

DiLorenzo noted that while high-rise apartment sales are driving the gains, it’s the suburban cities that are benefitting. “High-rise apartment sales in Peel and York regions doubled in the first quarter while sales in the city of Toronto went sideways. When you delve into the numbers, it becomes clear that Toronto is losing market share to the suburbs as price-sensitive first-time home buyers take advantage of the alternatives available to them,” DiLorenzo stated.

March new home sales, prepared for the GTHBA by RealNet Canada Inc., were split 72 per cent low-rise and 28 per cent high-rise.

For further information:
Suzanna Cohen, Director of Communications 416-391-3450

March 2004 Sales Figures Historical Sales (Adjusted Monthly)

Municipality

Low-
rise

High-
rise

Total

Month

Low-
rise

High-
rise

Total

Toronto
192
816
1008
  Mar-03
2743
826
3569
Brampton
687
8
695
  Apr-03
2558
777
3335
Mississauga
226
322
548
  May-03
3236
1146
4382
Markham
352
24
376
  Jun-03
2822
1358
4180
Richmond Hill
246
51
297
  Jul-03
2575
1114
3689
Vaughan
197
34
231
  Aug-03
2401
769
3170
Ajax
206
0
206
  Sep-03
2719
856
3575
Oakville
197
5
202
  Oct-03
2747
4658
4405
Whitby
195
0
195
  Nov-03
2874
1682
4556
Burlington
147
18
165
  Dec-03
1630
698
2328
Newmarket
118
5
123
  Jan-04
1953
701
2654
Milton
111
0
111
  Feb-04
2622
1090
3712
Oshawa
93
0
93
Halton Hills
91
0
91
Clarington
71
9
80
Pickering
31
10
41
Whitchurch-Stouffville
38
0
38
Uxbridge
33
0
33
Caledon
29
0
29
Aurora
27
0
27
Scugog
15
0
15
Georgina
10
0
10
King
0
8
8
East Gwillimbury
5
0
5
TOTALS:
3,317
1,310
4,627


Yearly Comparison by Region

Region

Low-rise
Mar 04

High-rise
Mar 03

Total
Mar 2003

Total
Mar 2004

% Change

Durham 644 19
454
663
46%
Halton
546
23
461
569
23%
Peel
942
330
962
1,272
32%
Toronto
192
816
719
1,008
40%
York
993
122
973
1,115
15%

GTA:

3,317

1,310

3,569

4,627

30%

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