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 Market Watch September 2003

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Market Watch
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Four in a Row! September Continues String of Record Months

TORONTO -- Wednesday, October 8, 2003

The 6,751 sales transacted through the TorontoMLS system last month were the most ever reported in a September, TREB President, Cynthia Lai announced today.

"This figure is up an incredible 15 per cent over last year's 5,846 sales, and September 2002 was our previous best result for the month," the President said. "This makes four record months in a row and the best summer market ever recorded." Ms. Lai also noted that sales were up three per cent from August.

Prices bounced back in September, to $297,398 from August's figure of $285,366, a four per cent increase. They were also up five percent over September of 2002.

Breaking down the total, 2,567 sales were reported in TREB's 28 West districts and averaged $275,292; 1,084 sales were reported in the 14 Central districts and averaged $395,453; 1,370 sales were reported in the 23 North districts and averaged $326,455; and 1,730 sales were reported in TREB's 21 East districts and averaged $244,802.

Neighbourhood Corner
East York

Thus far in 2003 East York has registered 1,102 sales, down six per cent from the 1,168 figure recorded for the first nine months of last year. Of these, 547 were detached homes, which averaged $302,167. While sales of detached homes are up marginally over the 544 recorded during the same time-frame last year, prices have risen a full seven per cent from the $281,698 recorded during this earlier period. In addition, 241 sales of semi-detached homes were recorded in the January to September 2003 period for an average of $278,296. This price figure is up 11 per cent from the $250,989 average recorded in the first nine months of last year.


Dwelling Type
Sales
%
Median
Detached
3,381
97
$312,000
Semi Detached
806
98
252,750
Condo Townhouse
619
99
200,000
Condo Apt.
1,325
97
188,000
Link
214
98
249,500
Attached/Row/Twnhouse
374
98
231,750
Co-op Apt.
26
96
153,000
Detached Condo
6
97
253,950


    Housing Market Indicators

    September 2002

    September 2003

    % Change

    Sales*

    5,846

    6,751

    (+15%)

    New Listings*

    9,614

    12,768

    (+33%)

    Active Listings*

    15,910

    21,101

    (+33%)

    * All figures for Single-Family Dwellings.


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10/03