February 22 - High-rise condo sales set pace in January

February 24, 2011

High-rise condo sales set pace in January

Greater Toronto, February 22, 2011 - The first statistics on the GTA new housing market for 2011 reveal a good start to the New Year, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source of new home market information, there were 2,026 new homes and condominium suites sold in the Greater Toronto Area in January. While total sales were down 13 per cent from the January prior, high-rise sales reached their second highest level in the last 11 years (since 2000).

 BILD President and CEO Stephen Dupuis indicated that 2,026 unit sales in January is quite respectable considering that most builders are using that month to sell inventory as they prepare to launch new phases and projects in February and March.

"January is not a heavily weighted month in the grand scheme of things, but sales of over 2,000 units in January bodes well for the Spring market," Dupuis said.

January '11

Low Rise

High Rise

Total

Region

2010

2011

% Change

2010

2011

% Change

2010

2011

%Change

Durham

216

166

-23.1%

7

8

14.3%

223

174

-22.0%

Halton

123

212

72.4%

46

25

-45.7%

169

237

40.2%

Peel

309

262

-15.2%

73

90

23.3%

382

352

-7.9%

Toronto

78

43

-44.9%

824

675

-18.1%

902

718

-20.4%

York

540

412

-23.7%

119

133

11.8%

659

545

-17.3%

GTA

1,266

1,095

-13.5%

1,069

931

-12.9%

2,335

2,026

-13.2%

Jan-Jan

1,266

1,095

-13.5%

1,069

931

-12.9%

2,335

2,026

-13.2%

Source:  RealNet Canada Inc.

With more than 1,350 members, BILD, formed through the merger of the Greater Toronto Home Builders' Association and Urban Development Institute/Ontario, is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area.  BILD is proudly affiliated with the Ontario and Canadian Home Builders' Associations.

-30-