20% drop in new build price in one year
Remington 45’ lot
5 bedroom Elevation B
Jan 2019 price: $1.87M
https://web.archive.org/web/20190104154 ... he-cornel/
Mar 2019 price: $1.67M
https://web.archive.org/web/20190307175 ... he-cornel/
Feb 2020 price: $1.49M (Now sold out)
That’s a whopping 20% price drop on this particular lot and model in one year!
Clearly new build prices are being recalibrated to below resale prices (same size home in resale in the preserve area in Oakville is listed around $1.65M+ and inventory is very low). 2020 seems to be a better time to buy a new build with prices much lower than paying 20% more as some buyers must’ve done just a year ago.