A scant total of 97 houses — which include detached, linked, and semi-detached homes and non-stacked townhouses — sold during the month. bildgta | Toronto realestate realestatenews housingmarket
10:15 AM Aug 24, 2022
Meanwhile, a total of 1,777 new condo units sold, up 5% annually, and 3% above the 10-year average. BILD attributes the differing sales trends for home types to shrinking inventories as well as rising benchmark prices, which are driving homebuyers to the most affordable entry points to the market.“New condominium apartment sales posted a robust July, buoyed by buyer resiliency and stable prices,” said Edward Jegg, Research Manager at Altus Group, who provides the data for BILD’s report.
Very tight supply remains a factor behind price growth; the overall number of new homes for sale continues to shrink on a, due to very few new project openings. There were just 10,848 new homes for sale in July — including 9,311 apartments and 1,537single-family homes — representing 3.4 and 2.4 months of inventory, respectively. According to BILD, a balanced market would have nine to 12 months of inventory.
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