March new home sales in the Greater Toronto Location enhanced year-over-year, but the word “improved” is doing a lot of heavy lifting. There were 948 brand-new homes offered in the GTA last month– up substantially from March 2025’s historic low of 439 units, however still 64% below the 10-year average of 2,659.
In other words: second-worst March on record.The information originates from Altus Group, BILD’s main source for brand-new home market intelligence, and it breaks down as such: condominium apartment or condos– including systems in low -, medium-, and skyscrapers and stacked townhouses– accounted for 263 sales, sitting 86 %listed below the 10-year average. Single-family homes, which include removed, linked, and semi-detached houses and townhouses(leaving out stacked townhouses), represented 685 sales, still 12%below the 10-year average regardless of the year-over-year bump.”March brand-new home sales, though enhanced
, were still the second worst March on record, “said Edward Jegg, Research Study Supervisor at Altus Group. “Sales were particularly strong at a few tasks that had more aggressive pricing, revealing that purchasers are undoubtedly prepared to move off the sidelines under the best conditions. The waiver of all HST on brand-new home purchases beginning April 1 is expected to even more incentivize purchasers to jump back into the new home market. “On the inventory side, overall staying new home stock in the GTA dipped listed below 20,000 units for the very first time in 19 months, landing at 19,733– making up 13,726 condo apartment systems and 6,007 single-family dwellings. That represents a combined inventory level of 29 months, though BILD flags the number with a care: when sales are recovering from an extended low duration, the months-of-inventory calculation– based upon the previous 12 months of activity– overemphasizes the supply picture. As sales increase, that figure is expected to drop quickly.Benchmark costs held relatively firm. New condominium apartment or condos came in at $1,027,477 in March, sitting
at what BILD refers to as an apparent price floor. New single-family homes benchmarked at$1,413,863, down 7.7 %over the last 12 months. In Simcoe County, March saw 30 single-family new home sales and one condo apartment or condo sale, with a weighted average price of$ 1,153,454 for single-family homes.The huge variable for what follows is the HST rebate. BILD Chief Operating Officer Justin Sherwood is reading March as the start of something, not the story itself.”While we recognize the progress in new home sales for March, it is necessary to bear in mind the historical context of these figures,”stated Sherwood, BILD’s Chief Operating Officer.”March 2025 was the worst March on record with only 439 brand-new homes sold. Although we acknowledge the enhancement from last year to this March, it is important to keep in mind that the market in March 2026 continued to underperform against 10-year averages. That said, the momentum is a favorable indication that we are leaving the doldrums. Looking ahead, we are anticipating substantially more activity in the market as an outcome of the provincial-federal HST relief on new homes. Early anecdotal proof from the very first half of April points to considerably increased activity at brand-new home sales centres and increased sales. When we integrate the increasing momentum of March with the restored market activity in April, I believe we have some interesting things to eagerly anticipate. “