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 Market Watch October 2002

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Market Watch
For Further Information: 443-8152

 

Market Maintains Torrid Pace in Record Setting October

TORONTO -- Tuesday, November 5, 2002.

The Toronto Real Estate Market sizzled last month, with 6,455 single-family-dwellings changing hands in the best October ever recorded, TREB President Ann Bosley reported today. "October sales were up a whopping 19% from the 2001 figure of 5,402, sales, which was our previous best-ever October. They were also up 10% from September 2002, which indicates that the residential market is powering up from its summertime level."

Prices eased slightly in October, the President went on to note. "The average came in at $279,771, down one per cent from the $282,765 recorded last month," Mrs. Bosley said. "But that's still up 11% from the same time last year. Media Roomownership remains a great investment."

Breaking down the total, 2,437 sales were reported in TREB's 28 West districts and averaged $255,345; 1,107 sales were reported in the 14 Central districts and averaged $373,746; 1,260 sales were reported in the 23 North districts and averaged $311,978; and 1,651 sales were reported in TREB's 21 East districts and averaged $228,236.

Neighbourhood Corner
Whitby

Average prices in Whitby rose about 6 per cent over all to $223,524 from the $210,604 recorded in October of 2001. Breaking down the total:

  • 71 detached homes sold for an average of $252,523. This is up 8 per cent from the $234,459 recorded last October.
  • 20 link homes sold for an average of $201,368, a 7 per cent increase over the $187,287 recorded during the same In time period last year.
  • 12 condo-townhouses sold for an average of $164,292, up 4 per cent from October 2001's figure of $158,100

Dwelling Type

Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row/Twnhouse

Co-op Apt.

Detached Condo

Sales

3,194

790

636

1,298

187

308

36

6

Median

$295,000

240,750

191,000

182,750

232,000

218,500

160,000

198,500


    Housing Market Indicators

    October 2001

    October 2002

    % Change

    Sales*

    5,402

    6,455

    (+19%)

    New Listings*

    8,665

    9,790

    (+13%)

    Active Listings*

    N/A

    16,110

    N/A

    * All figures for Single-Family Dwellings.


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11/02