Just like the good old days when the GTA was churning out 40,000+ new home sales year after year. Except it’s different this time.
The first half of 2011 saw 23,988 new home sales. That’s the 2nd best first half of the last 12 years. The difference in 2011 is that the sales strength is happening on the back of high rise condo projects and not detached, and other low rise, new homes.
The first half of 2011 saw a record 14,547 high rise sales, or 35% more sales than the previous high water mark of 2007 – which also happens to be the record year for high rise sales (22,380).