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 Market Watch May 2000

News Release

Price Breakdown

Single Fam. Res

Year-to-Date Single Fam. Res.

Single Fam. East

Single Fam. Central

Single Fam. North

Single Fam. West

Annual MLS Sales

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Market Watch
For Further Information: 443-8152

Prices Stable in May

Toronto -- Thursday, June 1, 2000 --

Button - Number of MLS Sales
Button - Number of New MLS Listings
Button - Number of Active MLS Listings

At $247,014, prices remained virtually unchanged in May, TREB President Marilyn Baubie announced today. "The easing of price pressures is partly seasonal -- not as many people are willing to jump into the market during the warm summer months -- and partly a result of the central banks' repeated interest rate hikes," the president explained. "We are still up over 6 per cent from the $231,908 recorded last May, and this kind of gradual rise in prices is much more sustainable than the wild increases we saw in the late 1980's."

The President went on to note that sales were down two per cent from the 5,996 recorded in April, and down six per cent from the 6,296 seen in May of 1999. "However, that's still close to a record pace," Ms. Baubie said.

Neighbourhood Corner:
Victoria Village/Parkway East

Victoria Village/Parkway East (from Lawrence to York Mills and Victoria Park to the DVP) experienced a good spring market this May. With 10 sales of detached homes, activity was twice that of May 1999, and prices rose 6% to $341,675 from the $319,540 from the same time period. Average Time on Market was a mere 29 days.

 

Single-Family Residential Breakdown

    LegendPie Graph

     

    Dwelling Type

    Single Detached

    Semi Detached

    Condo T.H.

    Condo Apt.

    Link

    Attached/Row

    Co-op Apt.

    Detached Condo

    Sales

    2,974

    639

    596

    1,179

    212

    274

    13

    5

    Median

    $255,000

    206,000

    162,000

    149,000

    200,750

    191,000

    125,000

    145,000

     


     

    Housing Market Indicators

    May 1999

    May 2000

    % Change

    Sales*

    6,296

    5,892

    (-6%)

    Sales (P.O.T.)

    1,367

    1,226

    (-10%)

    New Listings*

    8,932

    9,369

    (+5%)

    Active Listings**

    21,209

    20,731

    (-2%)

     

    * Single-Family Dwellings Only
    ** Properties All Types including Single-Family Dwellings.


     

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GR 05/00