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 Market Watch November 2003

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Market Watch
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Banner Year as November Breaks Record

TORONTO -- Thursday December 4, 2003

With November continuing a record breaking streak for a sixth consecutive month, 2003 will be the best year ever for the Toronto real estate market, TREB President Cynthia Lai announced today.

"With residential sales reaching 74,764, the 11 month total is already above the 74,759 sales recorded in all of 2002," the President said. "By the end of December, we should be up five per cent over last year's figure, and closing in on the 80,000 sale mark. It will be a truly remarkable end to a remarkable year."

Sales for November reached 5,847, besting the previous record November (November 2002, with 5,537 sales) by about six per cent.

Breaking down the total, 2,207 sales were reported in TREB's 28 West districts and averaged $282,696; 1,006 sales were reported in the 14 Central districts and averaged $407,632; 1,134 sales were reported in the 23 North districts and averaged $321,582; and 1,500 sales were reported in TREB's 21 East districts and averaged $243,244.

Neighbourhood Corner
South Markham (N-10)

For the first eleven months of the year, the South half of Markham (N-10, from Hwy. 407 to Steeles, and Hwy. 404 to the Pickering Town Line) has seen 864 sales of single family dwellings, down 11 per cent from the same period in 2002. The average price for the January to November 2003 period is $331,484, up six per cent from the $311, 524 recording during the same time last year. Of homes sold in this area, the vast majority were either Detached (361 sales) or Link (458).

The 2003 average price for the former was $392,947, and for the latter: $290,977.


Dwelling Type
Sales
%
Median
Detached
2,859
97
$317,000
Semi Detached
734
98
255,950
Condo Townhouse
536
97
200,650
Condo Apt.
1,148
97
186,000
Link
183
98
240,000
Attached/Row/Twnhouse
352
98
243,250
Co-op Apt.
30
97
159,500
Detached Condo
5
97
246,000


    Housing Market Indicators

    November 2002

    November 2003

    % Change

    Sales*

    5,537

    5,847

    (+6%)

    New Listings*

    7,328

    8,632

    (+18%)

    Active Listings*

    14,937

    17,827

    (+19%)

    * All figures for Single-Family Dwellings.


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12/03