When it comes to the Total Market Area (TMA), which includes the Greater Toronto Area (GTA) and surrounding areas like the Golden Triangle and Simcoe County, the new low-rise market is still a story of strong demand and low supply, says the Trimart Research Corporation.
The Toronto Real Estate Board (TREB) recently announced another month of listings growth in the resale market, and some believe that with more resale listings, less buyers will be attracted to the new home market. So far, that hasn’t been the case. The amount of interest in new home communities is still strong and supply is still low.
The low supply may not last much longer though. In Trimart’s latest report, they predict that there will be a surge of new low-rise openings and releases in the third quarter of 2017, especially later in the summer, leading into the typically busy fall. With a surge in supply, there’s a good chance the prices will level out a bit, too.
Listed below are a few notable low-rise sites of the last month:
Park City in Burlington
This beautifully designed development by Tobyn Park Homes is one of the latest condo townhome projects to launch in Burlington. The project features units ranging from 540 to 1,147 square feet, with prices from $283,990. This is a great opportunity for first-time buyers!
Grand River Woods in Cambridge
What can we say, Trimart really believes in this Fernbrook Homes community in Cambridge. We’ve lost count of how many times this project has been featured on Trimart’s Hot Spots list! Grand River Woods is comprised of 30’, 35’, and 40’ detached homes ranging from 1,420 to 3,360 square feet. Prices start at $369,990, which is probably why the community has been featured so many times; you can’t find new detached homes in the GTA at that price point.
Willow Glen in Tottenham
This Brookfield Homes community features a wide range of detached homes on 30’, 36’, and 43’ lots. The models range from 1,540 to 2,990 square feet with prices from $554,990. Willow Glen has been very successful among move-up buyers in search of a quaint community to raise a family.
Longbranch 2 in Toronto
This is your final opportunity to purchase at Minto’s Toronto community, Longbranch 2. The community features condo townhomes ranging from 547 to 1,320 square feet with prices from $379,990. This project is transforming the Long Branch neighbourhood and is steps from public transit and the GO Station.
Lakebreeze in Bowmanville
Phase 3 of Lakebreeze by Kaitlin Group is coming soon! This highly regarded Bowmanville community features freehold townhomes, detached and attached singles, ranging up to more than 3,000 square feet.
All information courtesy Trimart Research Corporation.