Throughout the summer, sales in the new home market and resale market dropped. Some blamed high prices, some blamed the record low inventory. The only constant was the faith in the fall market.
In the new home market report for July 2017 from the Building Industry and Land Development Association (BILD), President and CEO Bryan Tuckey said, “While overall sales may have slowed down a bit in July, it is likely that things will pick up again in the fall as more product comes to the market, and despite the dip in July we are on pace for a record year for new home purchases in the GTA.”
We know it’s not technically fall yet, but we took the first opportunity we could to attend a new home opening this September to see if the demand was truly there.
One of the exciting openings on our radar was Cobblestones South in West Brampton by Fieldgate Homes. The opening last weekend (September 16th and 17th) featured a new collection of 36’ detached homes ranging up to 3,400 square feet. The majority of the models were four-bedrooms and there were six-bedroom options.
We arrived at the sales office at 8676 Chinguacousy Rd. about an hour before the doors opened and there was a line forming. At 11 am, Fieldgate opened the doors and let the first 10 groups in, most were couples and families. After letting the first buyers in, there was still a line outside.
The prospective purchasers instantly gathered around the site table to view the available lots. Some people browsed the models mounted on the walls while they waited their turn to get a spot at the site table.
Within about 20 to 30 minutes there were people writing deals! While there was a crowd and people seemed eager to buy, the vibe was calm. Everyone was taking their time, analyzing the floor plans, and discussing their preferred lots.
We’ll be the first to admit it’s exciting when there are hundreds of people lining up and camping out overnight to get the first look at a new home release, but what we saw and experienced last weekend is a sign of a healthier market.
There was a good turnout, people were buying homes, and there wasn’t a sense of urgency driving people to make rushed decisions. Purchasing a new home should be an enjoyable process, and we believe Fieldgate made it so.
Fieldgate had enough sales staff so no one was waiting too long, they limited the amount of people in the sales office so there was breathing room, and questions were answered quickly and concisely.
All this said, Fieldgate has been building in West Brampton for years now, so they have a great understanding of their purchasers.
Overall, we think the successful opening at Cobblestones South in West Brampton by Fieldgate Homes was the first sign of what should be a busy fall for homebuyers and builders!
The Cobblestones South sales office at 8676 Chinguacousy Rd. will be open 11 am to 6 pm this week. There is still a great selection of new detached homes available, so visit Fieldgate as soon as possible!