GTA brokers may have cause to celebrate, with new-home sales in the region remaining strong and April figures showing continuous improvement over 2013, according to the Building Industry and Land Development Association (BILD).
According to RealNet Canada Inc., the GTA saw 3,243 new-home and condominium transactions in April – a 17-per-cent increase over April 2013.
Total year-to-date sales increased 46 per cent from 2013.
Sales of detached, semis and townhomes were up 83 per cent and sit just below the 10-year average. High-rise sales were down 19 per cent from 2013, due largely in part to limited new project launches in April.
Year-to-date sales are well above the 10-year average, which means GTA residents continue to view the high-rise market as an affordable path to homeownership," said BILD President and CEO Bryan Tuckey.
According to the RealNet New Home Price Index, the average price of a low-rise home increased six per cent to $667,667 while the average price of a high-rise home grew one per cent to $437,366.