The word is out from BILD: sales of new homes and condos in the GTA remained steady in June.
There were 3,461 new home sales through the month, according to RealNet Canada Inc, BILD’s source for reliable figures. This is down 27 per cent from the record-setting 2011 but aligns more closely to the long-term average over the last ten years. Sales for the year thus far totaled more than 20,000.
“So far, the numbers have painted 2012 to be an average year when it comes to sales,” said BILD President and CEO Bryan Tuckey in a press release. “What is worth noting, however, is the continued shift in the market as it gravitates towards higher-density housing.”
Here are a few more interesting points contained within the BILD/RealNet stats:
- To date, 20,785 homes have been sold in the GTA in 2012
- As of the end of June, the high-rise market is at 38 per cent above the long-term average, ranking it the second-highest on record despite being down 20 per cent from last year
- The low-rise market is sitting at 27 per cent below the long term average, primarily due to record-low inventory levels spurred by reduced land supply and emphasis on intensification by the Government of Ontario
- The RealNet New Home Price Index indicates that high-rise pricing dropped 6 per cent over June 2011 to $432,256
- Low-rise pricing rose 10 per cent over June 2011 to $603,102
Want to see the nitty-gritty numbers in chart form? Get your urban geek on below…