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 Market Watch June 2004

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Best Month in History! 9275 Sales

TORONTO -- Tuesday, July 6, 2004

The Toronto resale home market's incredible string of record-breaking performances continued in June, with an all time high of 9,275 sales reported through the TorontoMLS system. "This extraordinary sales figure is up one per cent from last month, our previous record period, and up 15 per cent over June of 2003," incoming TREB President Ron Abraham announced.

"It is also the fourth month in a row during which TREB's previous all time record has been broken."

Meanwhile, affordability increased as June sale prices moderated. "The average fell to $316,510, a three per cent decline over May, while the median fell one per cent to $275,000," Mr. Abraham noted. "Luckily, a healthy supply of listings (22,484 at month's end) is keeping a cap on price increases."

Prices were up seven per cent over June of 2003.

Breaking down the total, 3,531 sales were reported in TREB's 28 West districts and averaged $293,294; 1,599 sales were reported in the 14 Central districts and averaged $419,886; 1,847 sales were reported in the 23 North districts and averaged $343,112; and 2,298 sales were reported in TREB's 21 East districts and averaged $258,871.

Neighbourhood Corner
Etobicoke

There have been 2,423 sales in Etobicoke (W-6 to W-10) for the first six months of 2004, which is a six per cent increase over the 2,285 sales recorded in the first half of 2003. The average price rose eight per cent to $332,409 from the $306,094 recorded during same time period last year. Of these sales, 1,273 were of detached homes, which averaged $430,145.


Dwelling Type
Sales
%
Median
Detached
4,579
98
$335,000
Semi Detached
1,127
99
$270,000
Condo Townhouse
909
98
$215,000
Condo Apt.
1,797
97
$188,000
Link
256
98
$262,500
Attached/Row/Twnhouse
548
98
$255,000
Co-op Apt.
47
97
$160,000
Detached Condo
12
97
$223,000


    Housing Market Indicators

    June 2003

    June 2004

    % Change

    Sales*

    8,033

    9,275

    (+15%)

    New Listings*

    12,353

    14,719

    (+19%)

    Active Listings*

    22,138

    22,368

    (+1%)

    * All figures for Single-Family Dwellings.


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07/04