News Releases

Dec 16, 2004 - November 2004 Sales Figures

January 18, 2005

December 16, 2004

November 2004 Sales Figures
(Housing Statistics) New home sales top 40,000

Toronto— There were 3,438 new homes and condominiums sold in the Greater Toronto Area in November bringing the yearly total to 39,758 announced Mark Parsons, president of the Greater Toronto Home Builders' Association today.

“When the December results are finalized, sales will end-up between 41,500 and 42,000 units representing the fourth best year ever and marking the fifth year in a row sales have exceeded the 40,000 unit threshold (the only other year we’ve seen this level of activity was 1986,” said Parsons.

“High-rise condominiums continue to be the driving force behind the new home market capturing an amazing 40 per cent of the market in November. Year to date high-rise condominium sales are up 16 per cent over 2003,” added Parsons.

The GTA new home price index increased slightly in November at $359,555 for low-rise homes and $270,854 for high-rise condominiums. The index is essentially the average asking price of all the remaining new homes and condos currently available for sale, as calculated by RealNet Canada Inc., the GTHBA’s independent source of new home market information. The index is based on currently available new home offerings, weighted by remaining inventory, for projects of 15 or more units, excluding ultra-luxury product across the GTA.

	LOW-RISE			HIGH-RISE			TOTAL
REGION	2003	2004	% Change	2003	2004	% Change	2003	2004	% Change
Durham	425	339	-20%	9	53	489%	434	392	-10%
Halton	493	327	-34%	54	24	-56%	547	351	-36%
Peel	892	404	-55%	320	55	-83%	1,212	459	-62%
Toronto	311	157	-50%	1,024	1,199	17%	1,335	1,356	2%
York	694	820	18%	230	60	-74%	924	880	-5%
GTA:	2,815	2,047	-27%	1,637	1,391	-15%	4,452	3,438	-23%

The top five municipalities in the GTA for November are Toronto (1,356), Markham (301), Brampton (274), Vaughan (237) and Mississauga (184).

For further information:
Suzanna Cohen, Director of Communications 416-391-3450
Stephen Dupuis, Executive Vice President 416-391-3453