GTA New Home Market Report

High Rise New Home Sales Top Low Rise Sales in GTA

RealNet Canada Inc. releases the March 2008 GTA New Home Market Report, providing insight into sales activity, index price and remaining inventory of Low Rise and High Rise projects by product type for each of the Toronto Real Estate Board districts.

There were 3,077 new home sales recorded in March 2008 in the Greater Toronto Area, down 20% from the same time last year. March 2008 Low Rise sales accounted for 45% (1,391) of the new home sales activity in the GTA, representing a decrease in sales of 8% from the previous month and decrease of 29% from the same month last year. According to the RealNet New Home Price Index the average asking price of a low rise home increased by 5.9% within the last 12 months. March 2008 high rise sales totaled 1,686, an increase of 57% over the previous month and down 11% compared to same time last year. Similar to Low Rise, the average asking price of a high rise unit increased by 16.4% since March 2007.

Go to the full GTA New Home Market Report.