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 Market Watch
 March 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

March breaks 5,000 sales

TORONTO - Thursday, April 2, 1998 -

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

    The spring market is underway with TREB Members reporting 5,005 sales of single-family dwellings in March, Toronto Real Estate Board President Jimmy Lee announced today.

    "This is the third year in a row that March sales have surpassed 5,000, "commented Mr. Lee." And while this March was not as strong as the previous two years, we are still pleased with the results."

    Last month's sales were down 10 per cent from 5,550 in March 1997 and down 6 per cent from 5,350 in March 1996. Month over month, sales were up 15 per cent from 4,341 in February.

    The average price moved up three per cent in March to $221,564 from $214,577 in February. The median also rose to $187,000 up from $184,000 in February.

    Active listings rose to 20,654 last month, up 12 per cent from 18,453 in February, and up one per cent from 20,459 last March. The increase in inventory is good news for prospective purchasers, commented Mr. Lee.

    TREB's 5,005 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,108,931,801, and averaged $221,564. The median price was $187,000.

    Breaking down the total 1,875 sales were reported in TREB's 28 West districts and averaged $203,907; 773 sales were reported in the 14 Central districts and averaged $322,118; 927 sales were reported in the 23 North districts and averaged $245,727; and 1,430 sales were reported in TREB's 21 East districts and averaged $174,699.

    In addition to the sales of single-family dwellings, TREB Members reported 1,043 sales of properties of other types (P.O.T.) during March moving the total to 6,048. The dollar volume for properties of all types (P.A.T.) was $1,372,946,908, and the average price was $227,008.



      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

    2,700

    554

    432

    901

    206

    200

    7

    5

    Median

    $230,000

    180,250

    145,000

    127,000

    180,000

    169,250

    147,900

    192,500


    Housing Market Indicators

    March 1997

    March 1998

    % Change

    Sales*

    5,550

    5,005

    (-10%)

    New Listings*

    8,416

    8,338

    (-1%)

    Active Listings**

    20,459

    20,654

    (+1%)

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


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GR 04/98