According to Trimart Research Corporation’s latest report, new low-rise sales slowed down through the summer across the Total Market Area (TMA), which includes the Greater Toronto Area (GTA), parts of Simcoe County, and the Golden Triangle area (Waterloo, Guelph, Kitchener, and Cambridge). But, home builders are confident in the fall market.
Though sales are slow, leading builders still have big plans in the works. For example, Mattamy Homes has eight sites in the works, including two in Milton and one in Richmond Hill, Whitby, Kleinburg, Cambridge, Etobicoke, and Markham.
Out of the 426 active sites in the TMA, 64% of them have zero inventory! So, supply is still an issue and there are a lot of new homes to build. Trimart says there are many new releases and openings scheduled for this fall, so supply should see a little spike over the next few months.
Listed below are a few notable low-rise sites of the last month:
Hometown in Guelph by Marycroft Homes
With 41 sales last month, Home Town takes the top spot on this week’s Trimart Hot Spots list. The community features townhomes ranging from 1,337 to 1,675 square feet with prices from $396,900. This is clearly a great opportunity for move-up buyers looking to start a family.
Queens Common in Whitby by Mattamy Homes
Mattamy continues their success in Whitby with 32 sales at Queens Common last month. The community features freehold townhomes ranging from 1,044 to 1,975 square feet with prices from $474,900. There are many new openings planned for Whitby this fall, so expect to see a surge in sales.
Lakeside Living in Innisfil by San Diego Homes
With 25 sales, Lakeside Living comes in third. This Innisfil community by San Diego Homes offers bungalows and two-storey homes from 1,800 to 2,355 square feet. Prices start at $524,900. Innisfil has a lot of room to grow and it’s been targeted by families as a more affordable area to buy a new detached home, compared to the GTA.
Park Ridge in Oshawa by Tribute Communities
Following closely with 21 sales, Park Ridge has been a successful Oshawa community. Tribute is offering detached homes from 1,996 to 3,302 square feet with prices starting at $547,990. As you may have noticed, Oshawa has become a location where buyers are looking for affordable, spacious ground oriented housing.
Trafalgar Landing in Oakville by Great Gulf
The final spot on this week’s Trimart Hot Spots list is taken by Trafalgar Landing, which saw 12 sales last month. The community features modern stylish townhomes from 1,840 to 2,080 square feet with prices from $802,990. Oakville has consistently been one of the TMA’s top selling cities.
All information courtesy Trimart Research Corporation.