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“Poised For An Upswing”: GTA New Home Market Picks Up Almost 40% in March

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While still down year over year by a significant margin, could March’s positive growth over February mark a resurgence? bildgta | realestate realestatenews GTA Toronto newhomemarket

BILD’s data, based on analytics from, also showed that condominium apartments , stacked townhouses, and loft units accounted for more than half of March’s total sales, with 893 units sold. Even so, that figure was down 73% from the year prior and 63% below the 10-year average.

In an opposite fashion to overall sales, new home inventory was slightly lower in March compared to the month prior, but posted gains when compared to its year-ago measure clocking in at 14,479 units. Of those units, 12,887 were condominium apartment units and 1,592 were single-family units — representing around 10.5 months and 6 months of inventory respectively, based on average sales for the past 12 months. A balanced market has nine to 12 months of inventory, the report stipulates.

Edward Jegg, Research Manager with Altus Group, noted in the release that March’s numbers bode well for the months ahead.

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