# Only 2 new single-family homes sold in Toronto last month

By [Brandon Donnelly](https://brandondonnelly.com) · 2018-02-23

altus, bild, cities, greater-toronto-area, home-sales, market-information, market-stats, new-home-market, new-home-sales, real-estate, toronto, uncategorized, urbanism

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Altus Group just released its [January (2018) sales figures](http://www.bildgta.ca/ourindustry/newhomemarket/Januarys-GTA-new-home-market-continues-recent-trends) for the new home market in the Greater Toronto Area.

\- 1,251 new homes sold last month. 886 of these (or 70.8%) were condominium apartments (everything from stacked townhouses to high-rises).

\- This is down from 2,429 homes in 2017 and 2,118 homes in 2016.

\- Almost half of the new home sales (609 homes) came from Toronto alone. And almost all of these (607 homes) were condominium apartments. Only 2 new single-family homes sold in the city last month.

\- Benchmark price for single-family homes was $1,229,454, which is a 19.6% increase from January 2017.

\- Benchmark price for condominium apartments was $714,430, which is a 40.8% increase from January 2017.

That last increase really stands out. I did a double take.

But as [we’ve talked about before](http://brandondonnelly.com/post/164582188858/the-year-of-the-condo), low supply and high prices seem to be pushing more buyers toward condos – and larger ones at that.

Recently we’ve been [seeing an increase](http://brandondonnelly.com/post/164582188858/the-year-of-the-condo) in both average unit sizes and prices per square foot.

According to [Altus](http://www.bildgta.ca/ourindustry/newhomemarket/Januarys-GTA-new-home-market-continues-recent-trends), sales of new single-family homes in the GTA last month were the lowest for a January since before 2000.

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*Originally published on [Brandon Donnelly](https://brandondonnelly.com/only-2-new-single-family-homes-sold-in-toronto-last-month)*