New Home Sales Continue To Improve In The GTA

GREATER TORONTO — Sales of new homes and condominiums in the GTA continue to improve, extending year-over-year increases to seven months, the Building Industry and Land Development Association (BILD) announced. According to RealNet Canada Inc., BILD’s official source for new-home market intelligence, sales in February edged out 2013 results while 2014 total sales for the first two months of the year were up 28 per cent. February 2014 total new-home sales were up three per cent over last February with the low-rise sector showing a five-per-cent improvement while high-rise sales were up two per cent.
The RealNet New Home Price Index showed a three-per-cent increase in the low-rise sector over February 2013, bringing the average purchase price of a detached, semi or townhome in the GTA to $656,814. Pricing for high-rise homes increased two per cent to $438,556.