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 Market Watch January 2004

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Market Watch
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2004 off to Good Start with Over 4,000 Sales

TORONTO -- Thursday, February 05, 2004

With 4,256 sales reported in the first month of the year, 2004 is off to a positive start, TREB President Cynthia Lai reported today.

"Last month's result is only the fourth time sales have broken the 4,000 level in a January," Ms. Lai. noted. "And although the figure is down somewhat from the record setting 4,869 sales reported in 2002, it is a signal that sales this year will remain active."

Prices rebounded in January over the close of 2003, rising four per cent to $295,989 over December's figure of $284,955. They were also up five per cent from the $281,292 recorded in January of 2003. "The upcoming year will see moderate price increases," Ms. Lai predicted,"...but these should not be much more than the rate of inflation."

Breaking down the total, 1,629 sales were reported in TREB's 28 West districts and averaged $276,264; 707 sales were reported in the 14 Central districts and averaged $376,586; 850 sales were reported in the 23 North districts and averaged $338,726; and 1,070 sales were reported in TREB's 21 East districts and averaged $238,815.

Neighbourhood Corner
Mississauga

The Mississauga area (W-12 through W-20) registered 645 sales in January, down 10 per cent from the 721 recorded during the same time-frame in 2003. However, the overall average in Mississauga came to $277,594, up seven percent over the $259,207 recorded in January of last year. Average days-on-market was 43, about the same as the Board-wide figure of 42.


Dwelling Type
Sales
%
Median
Detached
2,027
97
$318,500
Semi Detached
567
98
$254,500
Condo Townhouse
399
97
$205,000
Condo Apt.
855
98
$185,000
Link
144
98
$228,500
Attached/Row/Twnhouse
248
98
$240,500
Co-op Apt.
13
97
$175,000
Detached Condo
1
97
$174,000


    Housing Market Indicators

    January 2003

    January 2004

    % Change

    Sales*

    4,403

    4,256

    (-3%)

    New Listings*

    10,033

    10,020

    (-9%)

    Active Listings*

    13,919

    16,347

    (+18%)

    * All figures for Single-Family Dwellings.


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02/04