Published:As a leading Sales Operating System for new home developments across Canada, AVESDO has a deep understanding of market trends. We empower our clients with insights from processing tens of thousands of new home sales transactions annually. Our platform currently hosts over 400 projects for more than 200 developer clients, comprising more than 8,000 units available for sale.
In order to have sales, you must have supply and absorption. We’ll tackle supply in a minute, but first, let’s analyze absorptions to understand the level of market demand. The Greater Toronto Area was a dramatically different story, with some projects achieving 30-day absorption rates of <5%, skewing the Q1 launch average well below standard.
It should be noted that it’s likely the location, prices, or product types of Ontario’s launches did not help their cause, while BC’s projects boasted more favourable conditions. It’s important to clarify Ontario project sales have not stopped, but just continue to absorb slowly on average. In the last few weeks, we have seen a significant increase in absorption, so I wouldn’t count the GTA out just yet.