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 Market Watch October 2001

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Market Watch
For Further Information: 443-8152

Sales and Prices Both Up in Sixth Consecutive Record Breaking Month

TORONTO -- Friday, November 2, 2001

Sales broke a record for the 6th straight month, and prices rose to just over $250,000 in October, TREB President David Pearce reported today. "Toronto Realtors sold 5,402 single family dwellings in October," the President said. "That is a 8% increase from the 5,021 recorded in September, a 15% increase from the 4,696 recorded in October 2000, and up just a bit from the previous best October ever recorded by the Board, which was in 1997 when we had 5,398 sales through our MLS system."

Prices also rebounded in October, Mr. Pearce noted, up 2% to $251,479 from last month's figure of $245,530. "This kind of modest price increase should lure potential move-up buyers into the market, but with inventory levels, (19,150 active listings) up from last year, we don't expect any big price run-ups over the course of the next several months."

Breaking down the total, 2,017 sales were reported in TREB's 28 West districts and averaged $232,891; 843 sales were reported in the 14 Central districts and averaged $341,615; 1,071 sales were reported in the 23 North districts and averaged $273,962; and 1,471 sales were reported in TREB's 21 East districts and averaged $208,944.

Neighbourhood Corner
Whitby

With overall average prices at $210,604, Whitby (E-15) saw a 6% price increase over October 2000. Breaking down this total:

  • Detached homes, at $234,459, were up 7% from the $218,747 recorded during the same month last year.
  • Link houses were up 1% to $187,287 from last October's $184,353.
  • Condominium Townhouses were up 23% to $158,100 from October 2000's figure of $128,000.

Dwelling Type

Single Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row

Co-op Apt.

Detached Condo

Sales

2,675

662

503

1,100

170

274

15

3

 

 

 

Median

$263,000

220,500

170,500

165,250

211,750

200,000

176,300

305,000

 

 

 


    Housing Market Indicators

    October 2000

    October 2001

    % Change

    Sales*

    4,696

    5,402

    (+15%)

    Sales (P.O.T.)

    1,002

    950

    (-5%)

    New Listings*

    7,121

    8,665

    (+22%)

    Active Listings**

    18,867

    19,150

    (+1%)

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


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11/01