Newspaper article The Canadian Press

Record October for New Condo Sales in Greater Toronto as Single-Family Inventory Remains Low

Newspaper article The Canadian Press

Record October for New Condo Sales in Greater Toronto as Single-Family Inventory Remains Low

Article excerpt

Record October for new condo sales in Greater Toronto

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TORONTO - The Building Industry and Land Development Association says the Greater Toronto Area's supply of newly constructed condos last month hit its highest level since it began tracking that data about 15 years ago.

The group says that of the 5,377 new homes sold in the GTA in October, about 91 per cent of the units were multi-family homes, condo apartments in high-rise and mid-rise buildings and stacked townhomes, while the remaining nine per cent were low-rise, single-family homes.

Condo sales for October were 81 per cent above the 10-year average of 2,697, and the highest October yet recorded, while low-rise sales were 64 per cent below the 10 year average of 1,388. …

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