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 Market Watch October 2003

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Market Watch
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Five Consecutive Record Months! October Exceeds 7,000 Sales!

TORONTO -- Wednesday, November 5, 2003

Toronto's residential resale market continued its winning ways in October, with Toronto Real Estate Board Members reporting an October record 7,227 sales during the course of the month, TREB President Cynthia Lai announced today. "The local market turned in its fifth straight record-setting month, with sales up 12 per cent over October 2002, which was our previous best ever October," Ms. Lai stated. "Not only that, sales were up seven per cent over September, so it appears that the Fall selling season will be an active one as well."

Ms. Lai went on to note that prices in October continued their upward swing, coming in at $304,844 in October. This is up two per cent from September's figure of $297,398, and up nine per cent from the figure of $279,771 recorded for the same month in 2002. "In addition," said the President, "the year-to-date price, at $292,836, is up six per cent from the first 10 months of last year. So what we are seeing are price gains that are steady enough to satisfy the homeowner, but not so steep as to price first time buyers out of the market."

Breaking down the total, 2,969 sales were reported in TREB's 28 West districts and averaged $281,166; 1,188 sales were reported in the 14 Central districts and averaged $418,140; 1,497 sales were reported in the 23 North districts and averaged $330,341; and 1,846 sales were reported in TREB's 21 East districts and averaged $245,838.

Neighbourhood Corner
Agincourt

The neighborhood of Agincourt (within E07) saw 12 sales in October, for an average sold price of $345,058. Of these, half were detached homes that sold for an average of $431,417.


Dwelling Type
Sales
%
Median
Detached
3,620
98
$320,000
Semi Detached
917
98
257,000
Condo Townhouse
686
97
203,400
Condo Apt.
1,326
97
186,000
Link
207
98
249,990
Attached/Row/Twnhouse
438
98
238,000
Co-op Apt.
26
96
172,450
Detached Condo
7
97
295,000


    Housing Market Indicators

    October 2002

    October 2003

    % Change

    Sales*

    6,455

    7,227

    (+12%)

    New Listings*

    9,790

    11,423

    (+17%)

    Active Listings*

    16,110

    19,417

    (+20%)

    * All figures for Single-Family Dwellings.


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11/03