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 Market Watch August 2002

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Market Watch
For Further Information: 443-8152

 

Third Best August Ever

TORONTO -- Thursday, September 12, 2002

In August, the Toronto Real Estate Board MLS system recorded 5,418 sales of Single-Family Dwellings, TREB President Ann Bosley reported today. "Though this figure is down seven per cent from the 5,845 sales recorded in August 2001, it is still the third best August sales figure in the Board's 82 year history." The president went on to note that sales were also down five per cent from the revised July 2002 figure of 5,727.

Bosley also reported that average prices eased in August, falling three per cent to $266,154 from the revised July figure of $274,348, but up seven per cent from the same time last year. The median price remained unchanged from July at $237,000.

Breaking down the total, 2,066 sales were reported in TREB's 28 West districts and averaged $247,754; 834 sales were reported in the 14 Central districts and averaged $341,477; 1,088 sales were reported in the 23 North districts and averaged $300,810; and 1,430 sales were reported in TREB's 21 East districts and averaged $222,439.

Note: due to programming issues with TREB's new MLS system, several figures from July were revised from those given in earlier reports. In addition, pages 4a and 4b are missing from this report. We hope to supply the information on these pages as soon as it becomes available.

Neighbourhood Corner
Scarborough

Scarborough (E-4 and E-5, E-7 to E-11) remained comparatively affordable in August, with an average price of $225,640 based on 579 sales. This is up seven per cent from the $210,497 recorded in August 2001. Breaking down the total, detached homes in Scarborough averaged $279,820 in August compared to $265,021 for the same month last year, a five per cent increase. Condo apartments averaged $164,000, a three per cent increase over the August 2001 total of $158,873.


Dwelling Type

Single Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row

Co-op Apt.

Detached Condo

Sales

2,633

643

549

1,092

172

302

25

2

Median

$283,000

233,000

186,300

178,500

234,000

221,500

165,000

185,500


    Housing Market Indicators

    August 2001

    August 2002

    % Change

    Sales*

    5,845

    5,418

    (-7%)

    New Listings*

    8,018

    8,255

    (+3%)

    Active Listings*

    N/A

    16,535

    N/A

    * All figures for Single-Family Dwellings.


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09/02