RealNet Canada Inc., together with BILD, released the 2011 New Home Market Results on Friday and here are the highlights:
45,926 new homes sold in 2011 – 2nd highest total ever
28,466 high rise new homes sold in 2011 – highest ever
17,460 low rise new homes sold in 2011
A look at new home sales over the last 12 years…..
Check back for more highlights from the 2011 data.
It’s now official, through 10 months this year there have been more high rise new home sales in the GTA than in any other year. And we still have 2 months to go.
So far in 2011, there have been 23,747 high rise sales, surpassing the previous record year of 21,365 recorded for the full year of 2007.
Here are the highlights from our October 2011 GTA new home sales figures:
October 2011 Sales:
High Rise: 2, 928 sales
Low Rise: 1,592 sales
For high rise that’s the 2nd best October ever, down 15% from last October (the best October ever). For low rise sales that’s a 17% increase over October 2010 and the 2nd best October of the last 5.
Individual project details are available in with your access to RealInfo at www.realnet.ca or through your TREB portal.
As for those year to date totals for new home sales:
Year to Date (Jan. to Oct.) 2011:
High Rise: 23,747 sales
Low Rise: 15,056 sales
Total: 38,803 sales
Stay tuned, more breakdown of the numbers to follow in the coming days.
Using a visualization of RealNet’s new home sales data in the GTA we can quickly compare year over year changes in both the number of sales, and the split between high rise and low rise sales, for a given municipality. We can also explore the relative differences among all municipalities.
The size of each circle equates to total yearly sales by municipality. Remember, the 2011 circles are only represent the sales for the first 9 months of the year. The colour shows the split between high rise and low rise sales. High rise projects are those that include apartment, loft or stacked townhouse product types. Low rise projects are those that include detached, semi-detached, link, or row townhouse product types.
As for scale, the biggest circle on the chart is for Toronto in 2007. That circle represents 10,537 sales. All other circles are of relative size down to zero sales for which no circle is shown.
A couple of the things that stood out for me.
Many municipalities have a record market share of high rise sales so far this year as compared to previous years:
Markham: 52% high rise this year
Vaughan: 47% high rise this year
Mississauga: 76% high rise this year
Oakville: 72% high rise this year
Etobicoke: 100% high rise this year
Also, large green circles of the early 2000′s are being replaced by much smaller green circles with much larger slices of them turning orange. Especially in the 905 area code regions.
Please review and feel free to contact me with any questions. Also, don’t forget to enter your email address to be informed of new postings (I plan on updating more frequently).
High rise sales had their best September we’ve ever recorded and low rise sales had their 3rd lowest September of the last 12.
High rise product types saw 2,652 sales and low rise product types recorded 1,120 sales.
Here’s a historical comparison of High Rise, Low Rise, and Total New Home sales for the month of September.
We collect our data monthly, but we also just ended the third quarter of 2011, so here’s a comparison of Q3 2011 against previous third quarters back to 2000.
And while we’re at it we can take a look at new home sales so far year to date. The first 3 quarters of the year saw a record number of high rise sales at 20,729 units, 20% higher than the previous record set in 2007. That high rise sales total so far this year also represents an almost 61% market share of all new homes for high rise product types.
If you have any questions or need further information, please don’t hesitate to contact me or log into your account at www.realnet.ca as project information for all high rise and low rise projects greater than 15 units has been updated with information as at September 30, 2011.
As I apparently didn’t post anything about our August new home sales research, now is probably a good time given that we’ll have September numbers available tomorrow at our private client webinar. There are more details on how to attend on the log-in page of www.realnet.ca
Another record month for high rise new home sales in August. The 2,011 sales in August 2011 was 105% higher than the high rise sales recorded in August 2010.
Low rise product types recorded 1,466 new home sales which was up 48% over the same month last year.
Total New Home sales: 2,681 up +36% over last July
High Rise New Home sales: 1,490 up +20% over last July
Low Rise New Home sales: 1,191 up +64% over last July
So again, high rise sales outperformed low rise, representing 56% of all new home sales in July 2011. This brings the market share of high rise new homes to 60% for the year so far.
A chart of monthly sales of high rise and low rise new homes in the GTA over the past several years provides a comparison to previous months’ sales.
Now comparing just the month of July over the past 12 years we see that July this year was the third lowest for low rise sales of the past 12 and the third highest for high rise sales.
