Sales of new homes and condominiums in the Greater Toronto Area (GTA) continue to improve, extending year-over-year increases to seven months, says the Building Industry and Land Development Association.
Based on RealNet Canada data, sales in February edged out 2013 results while 2014 total sales for the first two months of the year were up 28%.
February 2014 total new-home sales were up 3% over last February with the low-rise sector showing a 5% improvement while high-rise sales were up 2%.
The RealNet New Home Price Index showed a 3% increase in the low-rise sector over February 2013, bringing the average purchase price of a detached, semi or townhome in the GTA to $656,814. Pricing for high-rise homes increased 2% to $438,556.
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