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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.

Read: U.S. homebuilder confidence rises, sales dim

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%.

Read:

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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.

Feb ’14 Low Rise High Rise Total
Region 2012 2013 2014 2012 2013 2014 2012 2013 2014
Durham 215 180 172 3 6 2 218 186 174
Halton 297 74 154 66 43 79 363 117 233
Peel 486 285 400 21 26 42 507 311 442
Toronto 20 55 35 710 804 885 730 859 920
York 551 481 364 164 181 72 715 662 436
GTA 1,569 1,075 1,125 964 1,060 1,080 2,533 2,135 2,205
Jan-Feb 2,733 1,650 2,117 1,705 1,741 2,230 4,438 3,391 4,347

Originally published on Advisor.ca

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