Brokerage RARE Real Estate says it presold more than 100 homes in a single weekend on behalf of the project’s developer, defying a sharp slowdown in Greater Toronto Area condominium pre-construction sales.

Known as Aura Lakeview Village, the development project is located in Mississauga, Ont..

The low-rise project, developed by Caivan, drew strong interest from buyers and agents who lined up before the sales launch, reflecting a level of demand more commonly seen during stronger market cycles, said RARE.

The project was exclusively listed by RARE’s Low-Rise division, which worked with the developer to tailor the offering to current buyer expectations, said the firm.

“This launch wasn’t about luck,” said Ryan Rabinovich, founder of RARE.

“Success in a challenging market doesn’t happen by chance. We collaborated closely with Caivan, had thousands of conversations with agents and buyers in the lead-up stages, collected critical feedback and data, resulting in a curated offering that reflects what buyers are actually looking for in today’s market.”

The strong sales come amid a sharp downturn in the region’s new-home market. According to a recent report from Altus Group, only 269 pre-construction homes were sold across the GTA in January, including just 184 low-rise units. That represents a 36% drop from the same period last year and a nearly 80% fall below the 10-year average.

Developers are increasingly relying on targeted product design and pricing strategies to attract cautious buyers in a market characterized by elevated inventory and tighter affordability, said RARE.

Additional phases of Aura Lakeview Village are already being planned, with prospective buyers encouraged to register for updates on future releases, according to RARE.

Pictured: Aurora Lake Village in Mississauga, Ont.

Photo: CNW Group/RARE Real Estate