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 Market Watch January 2002

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Market Watch
For Further Information: 443-8152

2002 Leads Off with Best Ever January

TORONTO -- Monday, February 4, 2002

TREB Members reported 4,869 sales of single-family dwellings last month, making it the best January on record, TREB President David Pearce announced today. "The 4,869 sales is up 19% from the 4,080 sales seen in January 1997, our previous best January, and up - 57% from last year's 3,103 sales," the President said.

The news was just as cheery on the pricing front. "January's average price was $262,819, up 11% from the $235,535 recorded in January of last year, and the first time since 1990 that prices have broken the $260,000 mark," the president said.

The president also noted that the Board's total listing inventory in January was 14,397, down 9% from the 15,783 recorded last year.

"We expect that the healthy price increases we are seeing will lure potential home-sellers into the marketplace, thus increasing the amount and diversity of product in the marketplace.

Breaking down the total, 1,851 sales were reported in TREB's 28 West districts and averaged $241,942; 751 sales were reported in the 14 Central districts and averaged $368,459; 1,040 sales were reported in the 23 North districts and averaged $290,359; and 1,227 sales were reported in TREB's 21 East districts and averaged $206,710.

Neighbourhood Corner
The City Core

Downtown Toronto (C-1) got the year off on the right foot last month, with 108 sales of condominium apartments, up 71% from the 63 condo sales recorded in January 2001. The median price also rose, to $219,750, up 10% from the $200,000 recorded during the same month last year.

In addition, there were 8 townhouse sales last month in C-1; the median price for these was $222,000, identical to the January 2001 figure.


Dwelling Type

Single Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row

Co-op Apt.

Detached Condo

Sales

2,370

551

449

1,017

167

303

5

7

Median

$272,000

224,000

179,500

172,000

218,000

210,500

319,000

189,000

 


    Housing Market Indicators

    January 2001

    January 2002

    % Change

    Sales*

    3,103

    4,869

    (+57%)

    Sales (P.O.T.)

    657

    881

    (+34%)

    New Listings*

    7,624

    8,369

    (+10%)

    Active Listings**

    15,783

    14,397

    (-9%)

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


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02/02