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 Market Watch August 2003

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Market Watch
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Another Record Set in August

TORONTO -- Thursday, September 4, 2003

The Toronto resale home market continued its winning ways in August, chalking up 6,549 sales, the best-ever figure for that month ever recorded, TREB President Cynthia Lai announced today. "Sales were up 12 per cent from the 5,845 figure of August 2001, which was our previous record, and up 21 per cent from last August. With 22,666 sales in the past three months we are on pace for our best summer market ever and a record-breaking year."

Prices continued to decline in August, down another one per cent to $285,772 from the $289,880. "Even though sales have surged in the second half of the year, prices have begun to moderate," noted Ms. Lai. "This is because we have a fairly healthy supply of inventory. The 19,134 active listing figure is up 16 per cent from the 16, 535 number recorded in August of 2002."

Breaking down the total, 2,401 sales were reported in TREB's 28 West districts and averaged $265,244; 1,062 sales were reported in the 14 Central districts and averaged $368,473; 1,388 sales were reported in the 23 North districts and averaged $317,050; and 1,698 sales were reported in TREB's 21 East districts and averaged $235,941.

Neighbourhood Corner
North York West

North York's West end (districts C04, C06, and C07) saw 1,563 sales of all types in the first 8 months of 2003, a three per cent increase over the 1,517 recorded in the first eight months of 2002. Of these, 411 were condominium apartments which sold for an average of $260,834, up about one per cent from the $257,312 recorded in the first eight months of 2002. In addition, 925 detached homes sold, and these averaged $537,357, a three per cent increase over the same period last year.


Dwelling Type

Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row/Twnhouse

Co-op Apt.

Detached Condo

Sales

3,143

776

672

1,369

202

365

15

7

Median

$308,000

249,000

197,000

189,000

257,000

237,000

157,000

262,000


    Housing Market Indicators

    August 2002

    August 2003

    % Change

    Sales*

    5,418

    6,549

    (+21%)

    New Listings*

    8,255

    10,140

    (+23%)

    Active Listings*

    16,535

    19,134

    (+16%)

    * All figures for Single-Family Dwellings.


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09/03