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 Market Watch December 2003

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Market Watch
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Almost 79,000 Sales Makes 2003 Best Year Ever

TORONTO -- Thursday January 8, 2004

With 78,898 sales recorded, 2003 turned out to be the best year ever for the local residential re-sale market, Toronto Real Estate Board President Cynthia Lai announced today.

"This is up six per cent over 2002, and an astounding result given some of the trying events Toronto experienced during the course of the year."

Prices continued to climb in 2003, reaching a year-end total of $293,067, which is up six per cent over last year, and the highest level ever recorded.

"While this is better news for homeowners than potential homebuyers," Ms. Lai commented, "It should be noted that for many house types, like condominium apartments, and for many areas of town, prices are still quite affordable."

Breaking down the total, 1,619 sales were reported in TREB's 28 West districts and averaged $265,549; 741 sales were reported in the 14 Central districts and averaged $350,797; 786 sales were reported in the 23 North districts and averaged $328,178; and 1,048 sales were reported in TREB's 21 East districts and averaged $235,964.

Neighbourhood Corner
City of Toronto

In 2003, The City of Toronto (E-1 to E-11, W-1 to W-10, C-1 to C-15) recorded 32,528 sales of single family dwellings for an average price of $318,029. Sales were up 2 per cent over the 31,821 recorded in the city last year, and prices increased nine per cent.


Dwelling Type
Sales
%
Median
Detached
1,890
97
$308,000
Semi Detached
502
98
254,750
Condo Townhouse
416
97
206,000
Condo Apt.
992
97
187,950
Link
120
98
248,150
Attached/Row/Twnhouse
252
97
239,500
Co-op Apt.
21
97
195,500
Detached Condo
1
101
300,500


    Housing Market Indicators

    December 2002

    December 2003

    % Change

    Sales*

    3,589

    4,194

    (+17%)

    New Listings*

    4,169

    5,059

    (+21%)

    Active Listings*

    10,923

    13,644

    (+25%)

    * All figures for Single-Family Dwellings.


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01/04