New home sales held steady in Ottawa in July, according to the latest report from industry analyst PMA Brethour Realty Group. Although summer is typically quieter than spring in the home-buying cycle, sales were up slightly from June.
And, for the first time since the beginning of the year, Mattamy Homes knocked Minto Communities down on the leader board when it came to market share.
There were 320 sales in July, up 1.6 per cent from June, when there were 315 sales. But compared to the year before, sales were down 5.9 per cent (new home sales hit 340 in July 2013). And new home sales continue to run well short of the 10-year average for the month, which is 415.
For the year to date, sales are also off slightly at 2,431, down 1.3 per cent from the same period in 2013 (2,463).
A good chunk of those sales have been thanks to Minto. The builder has held from 20 to more than 30 per cent of the market share almost every month, well ahead of the competition. That changed in July, when Mattamy equalled Minto’s monthly share, with both hovering around 15 per cent.
They were followed closely by Richcraft (12.8 per cent) and Claridge (11.6 per cent).
But despite the softer numbers for Minto, “they do truly continue to dominate with nearly one out of every four new home sales,” says Patrick Meeds, who heads up PMA’s new home division.
“Overall, sales continue to be quite depressed,” he adds in an email. “While we had seen a surge in the single-family market share for nearly half a year, in July there was a solid increase in town sales (with many of those sold with above-average incentives). The depressed town and condo market has been greatly affected by the decreased number of first-time homeowners.”
