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 Market Watch April 2001

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Market Watch
For Further Information: 443-8152

April Remains Solid

TORONTO -- Thursday, May 3, 2001

In April, TREB Member's reported 6,163 sales of single family dwellings throughout the Greater Toronto Area, down about 3% from the 6,328 sales recorded in March, but up 3% from the 5,996 recorded in April 2000, TREB President David Pearce said today.

“Right now sales are setting a strong, if not record breaking pace, and average prices have stabilized at about $250,000 ($249,692),” the President noted. "In addition, we are expecting further interest rates cuts over the next few weeks, and this should act as a spur to the late Spring market."

“However," the president concluded, "because inventory is at its highest level since 1998, we expect only moderate price increases over the remainder of the year. The Toronto market, after having been tilted towards sellers for the past several years, is now coming into balance.”

Breaking down the total, 2,332 sales were reported in TREB's 28 West districts and averaged $232,057; 906 sales were reported in the 14 Central districts and averaged $361,045; 1,188 sales were reported in the 23 North districts and averaged $265,113; and 1,737 sales were reported in TREB's 21 East districts and averaged $204,743.

Neighbourhood Corner
Forest Hill

Detached homes prices in Forest Hill (from S. Clair to Eglinton and Bathurst to Avenue) showed a modest increase over the same time last year, with the average rising about 7% to $1,194,622 from last April's $1,119,418.

In addition, year-to-date figures for condominium apartments in the area show a 9% increase to $456,944 from 2000’s $420,271. The combined time-on-market for condos and detached homes was 40 days in April, a little higher than the city-wide figure of 37 days.


Dwelling Type

Single Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row

Co-op Apt.

Detached Condo

Sales

3,147

493

593

1,191

222

308

4

5

Median

$264,000

213,000

167,000

156,000

210,000

195,000

192,450

365,000


    Housing Market Indicators

    April 2000

    April 2001

    % Change

    Sales*

    5,996

    6,163

    (+3%)

    Sales (P.O.T.)

    1,104

    1,104

    (-5%)

    New Listings*

    8,872

    9,870

    (+11%)

    Active Listings**

    19,304

    22,626

    (+17%)

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


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05/01