GTA new home market in November continues recent performance
January 15, 2021
The GTA new home market in November saw a continuation of recent trends, according to the Building Industry and Land Development Association (BILD).
It was another strong month for sales of new single-family homes, including detached, linked and semi-detached houses and townhouses (excluding stacked townhouses), with 1,914 units sold, according to Altus Group, BILD’s official source for new home market intelligence. This was up 68 per cent from last November and 58 per cent above the 10-year average.
Condominium apartments, including units in low-, medium- and highrise buildings, stacked townhouses and loft units, accounted for 1,836 new home sales, down 49 per cent from November 2019 and 32 per cent below the 10-year average.
Demonstrating strength
“It was a busy summer and fall in the GTA new home market, as the pent-up demand from our locked-down spring worked its way through the system,” says David Wilkes, BILD president and CEO. “With the arrival of winter, we are entering what is typically a quiet time in the market. We are optimistic that the overall new home market in the GTA will demonstrate its strength as the region emerges from the pandemic.”
The benchmark price for new condominium apartments in November was $1 million, which was up 17.9 per cent over the last 12 months. The benchmark price for new single-family homes was $1.27 million, up 15.8 per cent over that period.
