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 Market Watch June 2003

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Super Summer! 8,033 Sales in June!

TORONTO -- Friday, July 4, 2003

With 8,033 sales reported through the TREB MLS system, last month was by far the best June ever recorded in the history of the Toronto Real Estate Board President Cynthia Lai said today. "Sales are up almost 12 per cent over the 7,176 recorded in June of 2001, which was our previous best-ever figure for the month. They are also up a whopping 22 per cent over the 6,627 sales recorded in June 2002, and even up marginally over May's 8,025 figure."

"June's performance is quite astounding given the challenges Toronto has faced during the first part of 2003," Ms. Lai said. "However, it is likely that some of the activity we are seeing now is a result of buying decisions that were deferred from the first half. This should make the summer market unusually robust."

There is also good news with respect to afforability as prices fell marginally, with the June figure coming in at $295,053, down one per cent from the $298,451 recorded in May. The median price also fell marginally to $255,000 from $256,100.

Breaking down the total, 3,145 sales were reported in TREB's 28 West districts and averaged $272,031; 1,232 sales were reported in the 14 Central districts and averaged $400,991; 1,599 sales were reported in the 23 North districts and averaged $325,361; and 2,057 sales were reported in TREB's 21 East districts and averaged $243,244.

Neighbourhood Corner
Richmond Hill

Richmond Hill (N03) has seen 772 sales in the first six months of this year, down 14 per cent from the 902 sales recorded during the same time-frame in 2002. The overall average price in N03 was $354,601, up five per cent over the $336,764 recorded during the first half of last year. Of these sales, 336 were detached homes, which averaged $512,389.


Dwelling Type

Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row/Twnhouse

Co-op Apt.

Detached Condo

Sales

4,044

1,003

809

1,433

248

455

29

12

Median

$308,000

253,000

197,000

184,000

237,750

237,000

168,500

247,000


    Housing Market Indicators

    June 2002

    June 2003

    % Change

    Sales*

    6,627

    8,033

    (+21%)

    New Listings*

    8,909

    12,353

    (+39%)

    Active Listings*

    --

    22,138

     

    * All figures for Single-Family Dwellings.


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07/03