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 Market Watch July 2000

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Price Breakdown

Single Fam. Res

Year-to-Date Single Fam. Res.

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Single Fam. Central

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Single Fam. West

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Market Watch
For Further Information: 443-8152

Sales and Prices Moderate in July

Toronto -- Wednesday, August 2, 2000

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

The local real estate market took a summer breather in July, with 4,729 re-sales passing through the TREB MLS system, a 14 per cent decline from the 5,472 recorded last year, Toronto Real Estate Board President Marilyn Baubie reported today. In addition, the President noted, prices fell 4 per cent to $236,526 from the $247,929 recorded last month.

The price softening and decline in sales that we are witnessing is largely seasonal in nature," Ms. Baubie said, "Fewer people look for homes in the summer months, and this often creates a temporary buyer's market for those who are looking. It's also worth noting that interest rates, while having stabilized in the past several months, are up from last year, which exerts a gradual dampening effect on the housing market."

Breaking down the totals 1,788 sales were reported in TREB's 28 West districts and averaged $215,912; 725 sales were reported in the 14 Central districts and averaged $333,178; 893 sales were reported in the 23 North districts and averaged $264,548; and 1,323 sales were reported in TREB's 21 East districts and averaged $192,506.

Neighbourhood Corner:
Scarborough

Media Roomowners in Scarborough (E-4 through E-11) have seen their homes appreciate modestly in value over the past year. For example:

  • Year-to-date prices for detached homes have risen 10 per cent to $250,759 from last year's $227,812.
  • Year-to-date prices for condominium apartments have risen 9 percent over the same time period, to $139,579 from the $127,746.

 

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

    2,304

    471

    529

    1,032

    147

    223

    18

    5

    Median

    $251,200

    205,000

    163,000

    145,000

    198,500

    188,500

    177,250

    226,000

     


     

    Housing Market Indicators

    July 1999

    July 2000

    % Change

    Sales*

    5,472

    4,729

    (-14%)

    Sales (P.O.T.)

    1,090

    1,042

    (-4%)

    New Listings*

    6,949

    11,648

    (+68%)

    Active Listings**

    18,327

    19,924

    (+9%)

     

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


     

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GR 07/00