March 19 - New home sales continue to improve in the GTA

March 19, 2014

New home sales continue to improve in the GTA

Greater Toronto, March 19, 2014 - Sales of new homes and condominiums in the GTA continue to improve, extending year-over-year increases to seven months,  the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, sales in February edged out 2013 results while 2014 total sales for the first two months of the year were up 28 per cent.

February 2014 total new-home sales were up three per cent over last February with the low-rise sector showing a five-per-cent improvement while high-rise sales were up two per cent.

"Rising sales reinforce the fact that the GTA remains a great place to buy and enjoy a new home," said BILD President and CEO Bryan Tuckey. "Much of the credit goes to our members, who have continued to introduce quality, complete communities into the market."

The RealNet New Home Price Index showed a three-per-cent increase in the low-rise sector over February 2013, bringing the average purchase price of a detached, semi or townhome in the GTA to $656,814. Pricing for high-rise homes increased two per cent to $438,556.
 
A statistical backgrounder of February new-home sales is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

 

Feb '14

Low Rise

High Rise

Total

Region

2012

2013

2014

2012

2013

2014

2012

2013

2014

Durham

215

180

172

3

6

2

218

186

174

Halton

297

74

154

66

43

79

363

117

233

Peel

486

285

400

21

26

42

507

311

442

Toronto

20

55

35

710

804

885

730

859

920

York

551

481

364

164

181

72

715

662

436

GTA

1,569

1,075

1,125

964

1,060

1,080

2,533

2,135

2,205

Jan-Feb

2,733

1,650

2,117

1,705

1,741

2,230

4,438

3,391

4,347

Source: RealNet Canada Inc.

With more than 1,400 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.

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