East Gwillimbury: The GTA’s low-rise leader

From the September 2015 PMA Brethour newsletter

Sharon VillageYORK REGION IS the summer’s low-rise champion, accounting for more than 30% of total GTA sales as of end of July.

But PMA’s Alex Bruni tells us the biggest action wasn’t in Richmond Hill, Markham or Vaughan — it was in East Gwillimbury, where sales at communities in Sharon, Queensville, Holland Landing and Mt. Albert represented 26% of the region’s total, “more than Richmond Hill, Markham, Newmarket combined.”

Affordability and product availability drove sales in East Gwillimbury, which had 8% of total GTA low-rise transactions, more than any municipality except Brampton (27%).

Notable low-rise community openings include Sharon Village by Greenpark Homes, where all 97 townhome and detached units homes sold just after launch; and Sharon Village by Vogue, which saw 66 townhomes sold quickly after coming to market.

Elsewhere in the GTA, Trafalgar Green by Kantium Developiment in Whitby (89 townhomes sold), Chelsea Maple Station by Aspen Ridge in Vaughan (47 townhomes sold) and Pure by Branthaven Homes in Milton (65 townhomes sold) all had super successful rollouts.

While low-rise inventory across the GTA is down to 4,550 units (or about three months of inventory), Alex notes that the sale of stacked townhomes — as evidenced by many of the communities noted above — have accounted for nearly 10% of high-rise sales to date in 2015 (versus 7.8% on average between 2012 and 2014).

On the high-rise side, the summer’s big launches were Grid Condos by Centrecourt Developments at Dundas and Jarvis, where nearly all of the 528 units sold; 150 Redpath by Freed Developments and CD Developments, which saw over 150 units sell; and Connexion, a stacked townhouse project by North Star Homes at Islington and Bloor, where nearly all 148 units were snapped up.

Alex BruniSubscribe to PMA’s New Opening Alert today. Contact Alex for more information: alexb@pmabrethour.com