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For Further Information: 443-8152
Updates to "Market
Watch" report
Readers of the monthly Market Watch report will note some changes in
this month's issue. These are due to the fact that, with the improved
functionality of the new Toronto-MLS system, it has become possible
to revamp and improve TREB's statistical publications. Upgrades to the
Market Watch include:
1) Active & New Listings
The new Market Watch will give an active and new listings count of
single-family-dwellings (S.F.D.) for each individual MLS district at
the end of the month. The old "listed" category, which counted any S.F.D.
listing that was on the market at any time during the month, will no
longer appear.
2) Average Days on Market and Average List-to-Sales-Price Ratio
These figures will now be given on a district-by-district basis, as
well as by Area (East, West, Central, and North) and for TREB's whole
service area. They will also be given on a year-to-date basis as well
as for the individual months of the year.
Finally, figures for "reruns" and "all properties" (Single-Family-Dwellings
plus Properties of Other Types, which included some IC&I transactions)
will no longer appear.
For questions about the Market Watch report please contact Michael
Murphy (416) 443-8152.
This month's Market Watch:
5,000 Sales in July
TORONTO -- Tuesday, August 6, 2002
Sales through the Toronto Real Estate Board's MLS system totalled 5,075
in July, down 13 per cent from July 2001, and down 23 per cent from
the 6,627 sales recorded in June, TREB President Ann Bosley announced
today. "Despite these declines, July 2002 will still go down as the
third best July on record," Ms. Bosley said. "What we are seeing is
a combination of seasonal factors--the warm weather is causing potential
homebuyers to take a breather--and a market in which we are experiencing
more normal sales levels. We fully expect the rest of 2002 to set a
healthy, if not quite record-breaking, pace."
Prices also declined marginally in July, the President noted. The average
came in at $275,440, down 1 per cent from June's figure of $278,638,
but still up 6 per cent from the $258,797 recorded in July of 2001.
"While we still are in a classic sellers market, this easing in prices
will provide a welcome break for potential home buyers. And with sales
moderating, they will likely face fewer multiple-offer situations. It's
an excellent time to make a move."
Breaking down the total, 1,917 sales were reported in TREB's 28 West
districts and averaged $254,460; 744 sales were reported in the 14 Central
districts and averaged $381,365; 1,079 sales were reported in the 23
North districts and averaged $303,395; and 1,335 sales were reported
in TREB's 21 East districts and averaged $223,942.
Neighbourhood Corner
Brampton
Averaging $220,276, prices in Brampton (W-23 & W-24) for the
first seven months of this year are up 7 percent from the January-July
2001 figure ($206,535). Detached homes averaged $262,295. Average
time on market came in at about 33 days, a little better than the
city wide figure, and sellers generally recieved about 98 percent
of their asking price.
Dwelling Type
Single Detached
Semi Detached
Condo T.H.
Condo Apt.
Link
Attached/Row
Co-op Apt.
Detached Condo
|
Sales
2,613
645
479
870
168
285
9
6
|
$283,000
231,500
185,000
178,900
235,000
216,000
139,000
189,000
|
Housing Market Indicators |
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July 2001
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July 2002
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% Change
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Sales*
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5,807
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5,075
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(-13%)
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New Listings*
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7,633
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8,686
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(+14%)
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Active Listings*
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N/A
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N/A
|
N/A
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* All figures for Single-Family Dwellings.
Go to full issue of Market Watch
08/02
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