NEW HOMES STILL IN DEMAND AFTER RE-SALE LISTINGS RISE

May 24, 2017

By Michael Kramer

Share on
An upswing in listings for re-sale housing this spring hasn’t affected the demand for newly built homes.
That’s according to figures from The Building and Land Development Association (BILD) – which show that new homes cost 40 per cent more on average in April – than the same month last year.
The category of “newly-built low rise homes” includes detached, semi-detached and townhouses.
The price for those units was $1.2 million last month in the Toronto region – while new detached homes alone averaged $1.8 million.
And condominiums – which comprised 70 per cent of new home sales in the Toronto region – surged almost  24 per cent  from April 2016 – to a bit over  $570,000.
The Toronto Real Estate Board says there were 34 per cent more re-sale listings in the region in April – but that still equates to only a one month supply of inventory for single-family homes.
Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: