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 Market Watch
 January 1998

News Release

Price Breakdown

Single Fam. Res

Year-to-Date Single Fam. Res.

Single Fam. East

Single Fam. Central

Single Fam. North

Single Fam. West

Annual MLS Sales

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Market Watch
For Further Information: 443-8151

January sales break 3,000

TORONTO - Tuesday, February 3, 1998 -




    1998 kicked off with TREB Members reporting 3,006 sales of single-family dwellings in January, Toronto Real Estate Board President Jimmy Lee announced today. Although sales fell 26 per cent from the 4,080 recorded last year, it's important to remember 1997 was the best January this decade. Last month still marked the second best January of the 1990s.

    The President went on to note the average price moved to $206,209, up from $205,710 in December and up 4 per cent from the $198,798 recorded in January 1997. The median price moved to $182,000 from $180,000 in December.

    Lee concluded: "We are looking forward to stronger sales as we approach the Spring market, even if factors like the recent up-tick in interest rates may keep us from achieving last year's near-record pace."

    TREB's 3,006 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $619,863,329, and averaged $206,209. The median price was $182,000.

    Breaking down the total 1,160 sales were reported in TREB's 28 West districts and averaged $193,842; 436 sales were reported in the 14 Central districts and averaged $279,986; 546 sales were reported in the 23 North districts andaveraged $237,740; and 864 sales were reported in TREB's 21 East districts and averaged $165,656.

    In addition to the sales of single-family dwellings, TREB Members reported 577 sales of properties of other types (P.O.T.) during January moving the total to 3,583. The dollar volume for properties of all types (P.A.T.) was $769,557,270, and the average price was $214,780.



      Single-Family Residential Breakdown

     

    Dwelling Type

    Single Detached

    Semi Detached

    Condo T.H.

    Condo Apt.

    Link

    Attached/Row

    Co-op Apt.

    Detached Condo

    Sales

    1,527

    342

    258

    622

    109

    137

    9

    2

    Median

    $221,000

    177,250

    144,550

    124,000

    180,000

    166,000

    75,000

    268,250


    Housing Market Indicators

    January 1997

    January 1998

    % Change

    Sales*

    4,080

    3,006

    (-26%)

    New Listings*

    7,371

    6,913

    (-6%)

    Active Listings**

    16,895

    16,203

    (-4%)

    * Single-Family Dwellings Only
    ** Properties All Types including Single-Family Dwellings.


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GR 02/98