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GTA Condos

GTA resale condo listings and sales dip to end 2018, but prices rise

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GTA resale condo listings and sales dip to end 2018, but prices rise

GTA Condos

GTA condominium sales declined 9.9 per cent to 5,191 in the fourth quarter of 2018, compared to the last quarter of 2017, according to the latest statistics from the Toronto Real Estate Board (TREB).

New condo listings entered into TREB’s MLS System were down by more than sales on a year-over-year basis – dropping 11.2 per cent to 7,272 in Q4 2018 from 8,186 in Q4 2017.  his points to tighter market conditions at the end of 2018 compared to late 2017.

Price growth leader

“The condominium apartment segment was the best-performing segment in terms of annual average rates of price growth in 2018,” says TREB President Garry Bhaura. “Condos represent a relatively affordable housing option. With a substantial decrease in listings in 2018, competition between intending buyers remained strong.  This supported average price growth well-above the rate of inflation and annual rates of price growth reported for other ground-oriented home types.”

The average price of a condo unit increased by 8.3 per cent to $558,728 in Q4 2018 from $516,086 in Q4 2017. Year-over-year price growth in the city of Toronto, which accounted for 72 per cent of transactions, was slightly higher at 8.9 per cent, resulting in an average price of $598,664.

Lack of supply

“The condominium apartment segment continued to be a key entry point into the GTA home ownership market in 2018,” says Jason Mercer, TREB’s director of market analysis. “Higher mortgage qualification standards meant that many first-time buyers were looking for more affordable housing options.  Moving forward, the concern is that a continued lack of listings supply, despite relatively strong new condo completions as of late, will hamper the ability of potential home buyers to meet their housing needs.”

 

Condo market summary

Fourth quarter 2018
2018 2017
Sales Average Price Sales Average Price
Total TREB 5,191 $558,728 5,760 $516,086
Halton Region 222 $510,946 202 $461,200
Peel Region 654 $424,860 767 $389,446
City of Toronto 3,728 $598,664 4,188 $549,927
York Region 453 $498,198 482 $481,307
Durham Region 117 $383,872 108 $381,893
Other Areas 17 $391,265 13 $343,069
Source: Toronto Real Estate Board

 

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GTA condos lead resale price growth in 2018

GTA among the most promising new home outlooks for 2019, Altus Group says

Condo Life Feb 2019

 

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Modern Condominium Living in the Best-Connected 905 Locations

Modern condominium living in the best-connected 905 locations

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Modern condominium living in the best-connected 905 locations

Pemberton Group strives to design in every community

Recognized for creating successful residential developments across the GTA’s most established neighbourhoods, Pemberton Group strives to design every community to reflect a higher quality of living, offering purchasers the opportunity to own a home surrounded by desirable features and exceptional amenities.

9th & Main offers luxury living in a ravine setting.
9th & Main offers luxury living in a ravine setting.

9th & Main Condos + Towns and GO.2 Condominiums offer two of the most livable and accessible locations in the 905. Those seeking a quieter lifestyle, away from the hustle and bustle of downtown Toronto, will appreciate not having to compromise on the modern conveniences associated with urban living.

Both 9th & Main and GO.2 present the best of both worlds, offering residents a range of local and onsite amenities like shopping and dining, as well as the tranquility of sprawling nature with nearby parks and trails just moments away.

9th & Main is located in the heart of Stouffville, the third fastest growing community in Canada, and is quickly transforming into a hub of contemporary living while managing to retain its traditional roots. Offering a connected way of life, residents will be just around the corner from restaurants, bistros, cafes, and boutique shopping along Main Street.

Enjoy outdoor living on the Terrace at GO.2.
Enjoy outdoor living on the Terrace at GO.2.

Stouffville is also a cultured community that is brimming with arts, sports, leisure and recreation facilities. The recently expanded Leisure Centre houses a library, fitness centre, indoor pool and gymnasium. Stouffville’s free public art gallery, the Latcham Art Centre, and The Lebovic Centre of Arts & Entertainment that hosts comedy shows, concerts, exhibits, theatre, film screenings and dance performances, are also close by.

Lush landscapes surround the Stouffville community from Musselman’s lake, Sunnyridge and Rupert Parks to several golf clubs within the vicinity, including Angus Glen and Spring Lakes.

Commuting is made easy with the Stouffville GO Transit Station and Highways 404 and 407 just minutes away, but residents don’t have to go farther than their front doors to enjoy themselves!

9th and Main’s onsite private amenities are aplenty including a gym, yoga-Pilates studio, men’s and women’s change rooms with steam rooms, theatre, library/lounge with fireplace, media lounge with gaming console, virtual golf, children’s play room, two boardrooms, two guest suites and a pet wash. Also included is a large party room with fireplace, bar, pool table, and caterer’s kitchen that opens onto a beautifully-landscaped outdoor terrace.

Comprised of two eight-storey condominiums and two-storey lofts and townhomes, 9th and Main’s suite configurations include one-bedroom, one-bedroom plus den, two-bedroom, two-bedroom plus den, three-bedroom and two-storey lofts in addition to two-bedroom townhomes. Prices start from the $400,000s to over $1 Million.

The Party Room at 9th & Main offers lounge seating, dining areas and access to the outdoor terrace.
The Party Room at 9th & Main offers lounge seating, dining areas and access to the outdoor terrace.

For a limited time, homebuyers can take advantage of a 10 per cent deposit program within six months. Please see a Sales Representative to find out more. Call 289.380.3451, visit online at PembertonGroup.com or come by the Presentation Centre, located at 11750 Ninth Line in Stouffville.

Also in the 905, is Pemberton’s GO.2 Condominiums. Situated in the Village of Maple at Major Mackenzie Drive and Dufferin Street, this centrally-located family-friendly community is ideal for modern urbanites desiring a neighbourhood with a rich history.

GO.2 is perfectly placed near schools, parks, shops and dining, offering residents immediate access to everything they need. For example, the nearby Vaughan Mills Premier Outlet Mall includes more than 200 fashion, dining and entertainment venues, and movie-lovers will appreciate being within close proximity to Colossus! Just minutes away is Canada’s Wonderland and local favourite, Zooland Indoor Play Centre.

Nature enthusiasts will be minutes away from local parks, including Civic Park, Freedom Trail Park and Jack Pine Park, which features the City’s first outdoor fitness equipment area.

Those seeking to take advantage of public transportation will be steps away from the Maple GO Station, and close to the GO Transit Barrie rail line, Go Transit buses, and York Region Transit. Highways 400 and 407 are also easily accessible to commuter residents.

The amenities at GO.2 are ideal for entertaining guests! These include a striking and welcoming lobby, fitness centre, an elegant party room with lounge seating and a spacious kitchen with dining areas, and an enviable outdoor rooftop terrace with beautiful landscaping, an outdoor fireplace and seating areas perfect for alfresco dining.

Available suites at GO.2 feature large two-bedroom and two-bedroom plus den layouts starting from $685,900 and the final remaining townhome is priced at $903,900, offering generous living space making them ideal for growing families. Call 905.553.1430 or visit the Presentation Centre, located at 1860 Major Mackenzie Drive West.

To discover more about Pemberton’s desirable 905 communities, register today at: pembertongroup.com. You can also follow Pemberton Group’s Facebook, Twitter, Instagram and YouTube accounts.


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Toronto VIP New Condos Portal

Toronto VIP New Condos Portal

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Toronto VIP New Condos Portal

Get VIP Access to Pre Construction Condos Toronto

TorontoCondo4u is managed by Aman Kapoor, a Platinum VIP agent who offers the most up-to-date information about pre-construction projects across the GTA. Registered clients are guaranteed access to purchase units before sales are open to the general public and with VIP prices and incentives.

TorontoCondo4u provides you with the opportunity to:

  • Invest at the lowest price point with additional developer specific VIP incentives (i.e.: discounted parking price, discounted locker price, decor dollars);
  • Get the first pick at floorplans and choose the unit that is best suited to you;
  • Avoid missing out on hot new homes and condos across GTA.

Get your VIP realtor to do the work on your behalf such as assist in picking the best floorplan, views, choosing the best priced units and getting you additional incentives.

What differentiates the company from others is the personal touch provided to all clients. A myriad of clients with different backgrounds seek information on pre-construction projects. The team at TorontoCondo4U ensures that each client is provided with information that suits their needs. From investors to those starting a new chapter in their lives, the team at TorontoCondo4u provides a personal approach that is sometimes lost in this technological world. Each client has a wealth of information at their disposal including best prices, VIP incentives, floorplans and most importantly, direct contact with the team to seek the answers they need to comfortably make their purchase.

Be in the first group of select buyers to get access to the best units outside of the developer’s friends and family. What it means to get first group access:

  • Get Day 1 red carpet access to new projects, promotions and sales events;
  • Don’t need to wait in any line-ups or drive tirelessly to different sales offices;
  • Reserve a specific unit ahead of all other buyers in the comfort of your own home simply by completing a worksheet;
  • Get to work with a specialist, someone who has sold hundreds of condos and will help you save thousands and avoid common pitfalls.

With one million new homes coming to GTA in the next two decades, getting first-hand access with the best prices and options available is the first step to ensuring your next purchase is the best one yet.

Generally, developers in the GTA follow a staggered formula when they sell their pre-construction projects:

  1. Friends and Family sales event (5-10 per cent of units get sold)
  2. Platinum VIP agents get access (30-40 per cent get sold)
  3. VIP agents get access (20-30 per cent get sold)
  4. All agents get access (10-20 per cent get sold)
  5. Pre-registrants get access (5-10 per cent get sold)
  6. Grand Opening to the public (last 10-20 per cent gets sold)

Buying with TorontoCondo4U.ca guarantees you access to at least 90 per cent of unit availability with the best options and prices available. Considering Platinum VIP realtors sell the largest percentage of the project, developers ensure their Platinum VIP realtors are offered the best prices and best incentives along with the earliest access to the project, keeping their realtors motivated to continually sell.

Register on TorontoCondo4u.ca today or call (647) 544-4663 to become a VIP member and receive the latest updates on new project launches and save thousands on your next purchase.

AMAN KAPOOR
aman@torontocondo4u.ca
TorontoCondo4u.ca
(647)-544-4663


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Record October 2017 for new condo sales

Record October 2017 for new condo sales

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Record October 2017 for new condo sales

Average price for available new detached homes rises to $1,548,888

New construction home sales soared in the GTA in the month of October, primarily driven by sales of multi-family homes, condo apartments in highrise and midrise buildings and stacked townhomes, the Building Industry and Land Development Association (BILD) announced November 24.

There were 5,377 new homes sold in October, according to Altus Group, BILD’s official source for new home market intelligence. About 91 per cent of them (4,884 units) were multi-family homes and only 9 per cent (493) were lowrise single-family homes such as detached and semi-detached houses and townhomes. Condo sales for October were 81 per cent above the 10-year average of 2,697, and the highest October yet recorded, while lowrise sales were 64 per cent below the 10-year average of 1,388.

As of the end of October, 39,476 new homes have been sold in the GTA in 2017, 82 per cent of them condo apartments in highrise and midrise buildings and stacked townhomes.

“October data shows that the new homebuyer is left with very little choice when it comes to purchasing a new home,” said BILD president and CEO Bryan Tuckey.

“Provincial intensification policy has our members building more high and midrise dwellings making housing choices a challenge. The cost of a single-family home is out of reach for many consumers pushing them to buy a condo over a house. As a result we are seeing record-breaking condo sales and higher prices this year for new lowrise homes.”

While supply of new housing increased again in October and reached 12,500 units, it is still well below what is considered a healthy level. Supply of new housing is typically measured by the number of new homes available for purchase in builders’ inventories at the end of the month. At the end of October, there were 9,308 multi-family homes and 3,192 single-family homes available in the GTA.

“Demand for newly-built condominium apartments is being fueled by three key buyer groups – small investors who have become the de facto providers of new rental housing supply in the GTA; end user buyers who might prefer a single-family home but are seeking out more affordable options; and the more traditional end users who value the lifestyle and amenities of well-located projects,” said Patricia Arsenault, Altus Group’s executive vice president of research consulting services.

Prices of available new homes in October increased slightly for both single-family lowrise homes and multi-family homes. The average for available new single-family homes was $1,217,428 up from $1,204,829 in September, and 29.8 per cent above last October’s average price of $937,689. The average price for available new detached homes was $1,548,888 and the average for available new townhomes was $995,571.

Meanwhile the average price of available new condo apartments in highrise and midrise buildings and stacked townhomes was $677,456 in October, up from September’s $661,188. The average price per square foot was $791 and the average unit size was 857 square feet.

October 2017

Highrise

Lowrise

Total

Region

2017

2016

2015

2017

2016

2015

2017

2016

2015

Durham

15

97

26

209

329

325

224

426

351

Halton

158

375

199

75

514

246

233

889

445

Peel

89

203

174

62

178

486

151

381

660

Toronto

3,994

1,509

2,307

2

22

66

3,996

1,531

2,373

York

628

687

573

145

625

695

773

1,312

1,268

GTA

4,884

2,871

3,279

493

1,668

1,818

5,377

4,537

5,097

Source: Altus Group



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