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 Market Watch
 February 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

4,341 sales for February

TORONTO - Tuesday, March 3, 1998 -

Button - Number of MLS Sales
Button - Number of New MLS Listings
Button - Number of Active MLS Listings

    In February, TREB Members reported 4,341 single-family dwelling sales throughout the Greater Toronto Area up 44 per cent from January, although down 16 per cent from February of last year.

    Prices crept upwards in February. The average rose 4 per cent to $214,577 from $206,209, and the median rose slightly, up 1 per cent to $184,000 from $182,000.

    Active listings rose in February, up 9 per cent to 18,453 from 16,203 in January, in line with last year's 18,480.

    "We are pleased to report increased market activity during the month of February," commented TREB President Jimmy Lee. "Hopefully this is a sign that we are poised for a good spring market."

    Mr. Lee noted that condominiums continue to present an affordable ownership option with 820 sales of condo apartments averaging $143,510 and 408 sales of condo townhouses averaging $148,309 last month.

    TREB's 4,341 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $931,480,676, and averaged $214,577. The median price was $184,000.

    Breaking down the total 1,711 sales were reported in TREB's 28 West districts and averaged $199,809; 639 sales were reported in the 14 Central districts and averaged $313,516; 772 sales were reported in the 23 North districts and averaged $234,247; and 1,219 sales were reported in TREB's 21 East districts and averaged $170,986.

    In addition to the sales of single-family dwellings, TREB Members reported 855 sales of properties of other types (P.O.T.) during February moving the total to 5,196. The dollar volume for properties of all types (P.A.T.) was $1,158,307,291, and the average price was $222,923.



      Single-Family Residential Breakdown

    LegendPie Graph

     

    Dwelling Type

    Single Detached

    Semi Detached

    Condo T.H.

    Condo Apt.

    Link

    Attached/Row

    Co-op Apt.

    Detached Condo

    Sales

    2,249

    518

    408

    820

    158

    177

    5

    6

    Median

    $225,000

    180,000

    142,750

    124,700

    171,700

    168,000

    98,000

    158,000


    Housing Market Indicators

    February 1997

    February 1998

    % Change

    Sales*

    5,200

    4,341

    (-16%)

    New Listings*

    8,010

    7,571

    (-5%)

    Active Listings**

    18,480

    18,453

    (-0.1%)

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


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GR 03/98