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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Wednesday, April 28, 2021

Report - marked shift in GTA's housing demand patterns

A resurgence in appetite for condo units has pushed new home sales in the Greater Toronto Area to levels significantly exceeding the 10-year average.

Data from Altus Group and the Building Industry and Land Development Association indicates that the region saw a total of 5,003 new homes sold in March, which was 27% annually and 37% higher than the 10-year average for the market.

“The new condominium apartment market picked up pace in March as the spring market got underway,” said Ryan Wyse, manager of analytics and data solutions at Altus Group. “The number of units in new projects launched and the number of sales were both well above the March average of the past 10 years and those newly launched projects saw particularly strong sales at opening.”

“The March new home sales figures prove what we’ve known all along: demand for housing in this region isn’t going anywhere,” said Dave Wilkes, president and CEO of BILD. “Even as we continue to battle the third wave of the pandemic, it is vital that we don’t lose sight of the long-term housing needs of the GTA and that we continue to work to remove barriers to building more supply.”

Condo apartments represented the bulk of these sales, amounting to 3,297 transactions last month and reaching its second strongest March performance on record. This represented an 11% upswing from March 2020 and 42% above the GTA’s 10-year average for the asset class.

The benchmark price for new condo units was around $1.064 million, having increased by 8.3% over the last 12 months.

The single-family segment saw 1,706 deals closed, up 75% year over year and 27% above the 10-year average. The benchmark price surged to approximately $1.444 million, up by 29.4% annually.

MBN

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