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 Market Watch March 2003

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Market Watch
For Further Information: 443-8152

Almost 7000 Sales for Second Best March

TORONTO -- Thursday, April 3, 2003

The Toronto Real Estate Board MLS system saw 6,986 single-family dwellings change hands in March, the second best figure for that month ever recorded, TREB President Ann Bosley announced today. "While we are down eight per cent from the record of 7,602 sales recorded during March of 2002, the new figures tell us that the Toronto residential market is still in very good health."

Prices stabilized in March, up marginally to $290,185 from the $289,954 recorded in February, and up five per cent from the $274,874 recorded last March. "A flood of listings coming onto MLS in March eased some of the upward pressure on prices," Mrs. Bosley noted.

"Inventory now stands now at 18,842, up 19 per cent from February's 15,873. This is an indicator that we are entering a more equitable spring market than last year. This increase in listings can be partially attributed to sellers holding off in February because of the bitter winter conditions."

Breaking down the total, 2,623 sales were reported in TREB's 28 West districts and averaged $266,552; 1,153 sales were reported in the 14 Central districts and averaged $392,523; 1,392 sales were reported in the 23 North districts and averaged $316,827; and 1,818 sales were reported in TREB's 21 East districts and averaged $238,981.

Neighbourhood Corner
East York

In the first quarter of 2003, sales fell 13 per cent in East York (E-3) to 333 from 384 in the first three months of last year, while prices rose eight per cent to $250,360. Prices for detached homes during this same time came in at $290,051. This is a four per cent increase over last year's $278,125 figure. Condos averaged $150,841, up five per cent from the first quarter of 2002.


Dwelling Type

Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row/Twnhouse

Co-op Apt.

Detached Condo

Sales

3,463

883

671

1,361

216

362

25

5

Median

$305,000

250,000

195,000

185,000

236,000

227,000

190,000

194,000


    Housing Market Indicators

    March 2002

    March 2003

    % Change

    Sales*

    7,602

    6,986

    (-8%)

    New Listings*

    11,330

    12,842

    (+13%)

    Active Listings*

    N/A

    18,842

    N/A

    * All figures for Single-Family Dwellings.


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04/03