Low-rise: In Like a Lion

From PMA Brethour’s July 2015 newsletter

QueensvilleSPRING HAS SEEN a surge in low-rise sales across the GTA, with townhomes and detached homes leading the charge. Low-rise has accounted for 55% of total home sales year-to-date, compared to 47% this time last year (and 43% in 2013). Of the low-rise sales, 46% were townhomes and homes on 30-foot lots.

Notable May openings include Moda by Treasure Hill Homes in Vaughan (87 townhome sales); Creekside at Sharon Village by Sundial Homes in Sharon (125 detached sales); and Southfield Meadow Caledon by Treasure Hill (125 townhome sales).

It’s not all about low-rise, however. Successful condo launches this spring have included GEM GreenLife East Markham by Del Ridge Homes (sold out of 261 condo units); and The Bartholomew by Daniels Corp in revitalized Regent Park (261 condo sales). There’s also been Stanley Condos at Church and Carlton Sts. by Tribute Communities; East United at King and Berkeley Sts by SigNature Communities; and Grid Condos at Jarvis and Dundas Sts by CentreCourt Developments.

The GTA resale market remains hot, according to PMA’s Alex Bruni. “Houses are selling quicker, for more money, and for higher listing percentages than at the same time last year,” he says, noting homes in Durham Region sold the fastest, at 15 DOM compared to the market average of 18 days (Ajax is the clear leader, at 12 days on the market). And things are poised to get even more furious on the low-rise front, says Alex. “The market’s getting tighter as active listings continue to decline.”

Alex BruniPMA Brethour is introducing our New Opening Alert, a subscription-based service that offers full reports of new openings in the GTA with analysis, pricing, sales activity and brochures.  Contact Alex for rates and a trial: alexb@pmabrethour.com