Photo: UnTapping the World/Flickr
It’s been a tough year for the GTA new home market and November did not break the trend of the less than stellar sales numbers we’ve been seeing throughout 2013.
In its rundown of new home sales released today, Realnet Canada said there were 2,783 high-rise and low-rise sales in November, up four per cent from November 2012, but down 18 per cent from the 10 year average. (Tweet this)
The high-rise sector was in rough shape, with sales totaling 1,566, a 9 per cent year-over-year decline and 17.5 per cent below the 10 year average.
The low-rise sector fared slightly better with sales hitting 1,217, up 27 per cent from November 2012, but down 19 per cent from the 10 year average.
Here are a few more highlights from the Realnet report:
- Year-to-date (YTD) sales totaled 26,023, down 18 per cent from YTD 2012 and down 26 per cent from the 10 year average. This is the second lowest total new home sales number of any of the last ten years.
- YTD new home supply, defined as new projects and releases commencing sales, is at it’s second lowest level of the past 14 years. Total supply so far this year is 28,229 units or lots.
- The Low-Rise Price Index for November is $655,078, up 4.7 per cent from last year but down slightly from last month.
- The High-Rise Price Index for November is $435,620, down 0.4 per cent from the same period last year.
Check out the handy charts below to help put the new numbers into context…
Charts courtesy of Realnet