Trebnet icon

 Market Watch
 September 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

Back Issues





Market Watch
For Further Information: 443-8151

Low interest rates and strong economy drive September sales

TORONTO - Thursday, October 1, 1998 -

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

    The fall market is off to a strong start with 4,492 sales of single-family dwellings reported in September, said TREB President Jimmy Lee. This is up approximately 1 per cent from the 4,462 recorded in August, and up 5 per cent from the 4,298 recorded in September of last year.

    Looking at prices, Mr. Lee noted the average price increased 2 per cent to $213,917 from the $208,617 recorded in August. It was also up marginally from the $213,567 recorded in September of 1997. The median rose as well, to $185,350 from $184,000 in August, an increase of about 1 per cent. This also represents an increase of approximately 1 per cent from the $183,000 recorded in September of last year.

    "As we predicted last month, the interest rate hike was only temporary," said Mr. Lee. "The rates have moved to a lower level and people are no longer concerned about interest hikes."

    Active listings recovered from their summer dip to rise to 19,876 in September, an increase of 4 per cent from the 19,126 of August. However, they remained well below (off 6 per cent) the 21,060 recorded last September. "Our market has been very busy lately and this has reduced the inventory of available listings," commented Mr. Lee.

    TREB's 4,492 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $960,916,079, and averaged $213,917. The median price was $185,350.

    Breaking down the total 1,636 sales were reported in TREB's 28 West districts and averaged $202,238; 695 sales were reported in the 14 Central districts and averaged $285,383; 879 sales were reported in the 23 North districts and averaged $239,236; and 1,282 sales were reported in TREB's 21 East districts and averaged $172,718.

    In addition to the sales of single-family dwellings, TREB Members reported 937 sales of properties of other types (P.O.T.) during September moving the total to 5,429. The dollar volume for properties of all types (P.A.T.) was $1,187,538,665, and the average price was $218,740.

      Single-Family Residential Breakdown

    LegendPie Graph


    Dwelling Type

    Single Detached

    Semi Detached

    Condo T.H.

    Condo Apt.



    Co-op Apt.

    Detached Condo



















    Housing Market Indicators

    September 1997

    September 1998

    % Change





    New Listings*




    Active Listings**




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

    Market Watch is also available in an Adobe Acrobat Portable Document Format (.pdf) file. A .pdf file preserves the complete formatting of the original printed document. However, in order to view and/or print .pdf files you will first need the appropriate software. If you have an Internet account visit Adobe's WWW site and download the software free of charge.

    This issue of Market Watch -- in Adobe Acrobat Reader (.pdf) format.

GR 10/98