The “Not Applicable” Submarket

So it’s not the best name but the “Not Applicable” submarket encompasses all those areas that are not contained in one of our defined submarkets – like “Downtown Core” or “Mississauga City Centre”. Here’s a map of the defined submarkets http://bit.ly/KOhDL3

But, after four months (Jan. thru Apr.) of high rise new home sales in 2012, the “Not Applicable” submarket finds itself with 1,884 unit sales and ahead of all other submarkets (see chart below).

And since the “Not Applicable” submarket is generally in the top 2 submarkets month after month, I thought we should take a look at the geographic breakdown of those 1,884 high rise new home sales from the first four months on 2012. The sales in the chart below are those 1,884 sales broken down by municipality.

So one can see that high rise new home sales in Markham so far this year represent the biggest component of the “Not Applicable” submarket with almost 500 sales. That’s more than “North Toronto” and almost as much as “Mississauga City Centre” or “Bloor-Yorkville”.

Following Markham is Oakville with almost 300 sales, then Vaughan and Mississauga with just under 260 each. But remember, portions of Vaughan and Mississauga are covered by defined submarkets (Thornhill, Mississauga City Centre) so those 260 sales do not include any sales reported in those defined submarkets. The same goes for the other municipalities indicated above with “Not Applicable” sales.

We currently break down the sales from “Not Applicable” to the component municipalities in our High Rise Monthly Market Report that is available to RealInfo subscribers. Page 13 of that monthly report provides a comparison of the current month sales to the same month of the previous year. Page 14 of that report compares the sales of the last 12 months to the current remaining inventory (so you can calculate months of supply).

If you have any questions, don’t hesitate to contact me.

About Steven Hurst

VP Analytics, RealNet Canada
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