In May, BILD released the Altus Group statistics for April GTA new home sales, and once again, things looked great for condominiums. Condo sales were up 137 per cent from April 2018 and 37 per cent above the 10-year average. In fact, total new home sales were up 123 per cent from last year, and approximately even with the 10-year average. Overall, this bodes well for the new construction industry.
As for condos, the number of new towers launched had a lot to do with increased sales. The benchmark price was up 2.5 per cent over the past 12 months. Things are definitely on an upswing for this resilient market. With immigration continually bringing in new buyers, and with prices keeping many out of the low-rise market, condos will undoubtedly be the new homes of choice for years to come!