New low-rise supply now increasing while sales drop

According to the latest report from Trimart Research Corporation, new low-rise sales across the Total Market Area (TMA) dropped by 26%, while inventory jumped nearly 28%.

There is now 2.9 months of new low-rise inventory in the TMA. The West Region, which consists of Acton, Brampton, Burlington, Georgetown, Milton, Mississauga, Oakville, and Waterdown, has the widest selection of homes. Brampton, Oakville, and Milton usually have the most new low-rise sales every year, so it’s not surprising to see more inventory in the west.

Listed below are a few notable low-rise sites of the month:

Grand River Woods in Cambridge

Grand River Woods by Fernbrook Homes

Once again, Trimart is featuring Fernbrook Homes’ Grand River Woods on the Hot List. Cambridge real estate is hot and this community is one of the reasons why. Grand River Woods features 30’, 35’, and 40’ detached homes, ranging from 1,420 to 3,360 square feet, with prices starting at $369,990. That’s why this Cambridge community is hot; you can get a detached home for under $400,000!

Encore 2 in Brampton

Encore 2 by Gold Park Homes

Speaking of Brampton inventory, Encore 2 by Gold Park Homes features semis and detached homes ranging from 1,521 to 4,038 square feet. But, compared to Cambridge, Brampton is more unaffordable. Prices at Encore 2 start at $800,000 and go up to $1 million.

Bovair Trails in Aurora

Bovair Trails by Lebovic Homes

When it comes to luxury communities like Bovair Trails by Lebovic Homes, inventory issues don’t really apply. If you’re in a position to purchase a $2.6 million home around 6,000 square feet, then the lack of inventory and rising prices don’t scare you.

MODO in Bowmanville

MODO by Kaitlin Group

Durham continues to heat up as buyers in the Greater Toronto Area (GTA) seek out more affordable low-rise options. Kaitlin Group’s MODO features condo townhomes ranging from 553 to 983 square feet, with prices starting at $199,990. New low-rise homes starting under $200,000 is practically unheard of in the GTA, so this is special.

Longbranch 2 in Toronto

Minto Longbranch 2

This successful community by Minto is making a huge positive impact on the Long Branch neighbourhood. This waterfront area is going to be amazing when it’s complete. Longbranch 2 features condo townhomes ranging from 547 to 1,320 square feet with prices starting at $379,990.

All information courtesy Trimart Research Corporation.