{"id":91176,"date":"2026-10-15T03:12:49","date_gmt":"2026-10-15T03:12:49","guid":{"rendered":"https:\/\/condoy.com\/?p=91176"},"modified":"2026-10-15T03:12:49","modified_gmt":"2026-10-15T03:12:49","slug":"gta-new-condo-sales-very-encouraging","status":"publish","type":"post","link":"https:\/\/homeleaderrealty.com\/gta-new-condo-sales-very-encouraging\/","title":{"rendered":"GTA new condo sales \u201cvery encouraging\u201d"},"content":{"rendered":"
\n

Sales of newly-built condos in the Greater Toronto Area totalled 2,003 in May, accounting for the bulk of the 2,345 total new home sales.<\/p>\n

While condo sales were 47% below May 2017\u2019s record high, they were just 1% behind the 10-year average for May.<\/p>\n

\u201cMay new condominium apartment sales were very encouraging,\u201d noted Patricia Arsenault, Altus Group\u2019s Executive Vice-President, Research Consulting Services. \u201cNot only was it the strongest month since last November, but the sales of 2,003 units are impressive in historical terms: there have only been five other years where May new condominium apartment sales topped this year\u2019s performance.\u201d<\/p>\n

The figures are part of a report from the Building Industry and Land Development Association (BILD), which also reveals a 25.4% year-over-year rise in the benchmark price for new condominium apartments in low, medium and high-rise buildings, stacked townhouses and loft units ($758,370).<\/p>\n

Inventory is down to 9,345 as only five developments, totalling 710 units, opened in May.<\/p>\n

Single-family home sales, prices down<\/strong>
\nThe benchmark price for single-family homes was down 6.4% year-over-year to $1,144,191; and sales of just 342 homes meant sales dropped 33% from last May and down 78% from the 10-year average.<\/p>\n

But the fall in prices may be about to change; and not in a way that will benefit sellers.<\/p>\n

\u201cIt is doubtful prices will continue to moderate, considering embedded government fees, taxes and charges, and high land costs due to regulatory constraints,\u201d said David Wilkes, BILD President & CEO.<\/p>\n

BILD is asking residents to send letters calling for action on the GTA\u2019s housing issues to candidates for municipal office ahead of the October 22 elections.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sales of newly-built condos in the Greater Toronto Area totalled 2,003 in May, accounting for the bulk of the 2,345 total new home sales. While condo sales were 47% below May 2017\u2019s record high, they were just 1% behind the 10-year average for May. \u201cMay new condominium apartment sales were very encouraging,\u201d noted Patricia Arsenault, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-91176","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/posts\/91176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/comments?post=91176"}],"version-history":[{"count":1,"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/posts\/91176\/revisions"}],"predecessor-version":[{"id":91999,"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/posts\/91176\/revisions\/91999"}],"wp:attachment":[{"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/media?parent=91176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/categories?post=91176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/homeleaderrealty.com\/api\/wp\/v2\/tags?post=91176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}